- BNB Chain community today unveiled a strategy aimed at combating malicious MEV
- The community is actively encouraging users to report any validators or actors suspected of engaging in unfair MEV practices
- It urges users to use wallets with MEV protection functions
The BNB Chain community has proposed a strategy today to counter malicious MEV (Maximal Extractable Value), urging community members to take action against unfair trading practices.
They’re encouraging users to report validators or actors engaging in unfair MEV practices.
The community is advised to use secure RPC (Remote Procedure Call) services that prevent exposure, since some RPC endpoints leak transaction data before execution, making users vulnerable to front-running.
The BNB Chain community also emphasizes using and switching to MEV-protected wallets, as their built-in protection can prevent malicious individuals from exploiting transactions.
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What is MEV, and Why is it a Problem?
BNB Chain is a proof-of-stake chain, meaning validators are chosen by the community. As such, this proposition advocates for the removal of validators who either permit or gain an advantage from unfair MEV practices.
The users also advocate upgrading the memory pool. The mempool is where pending transactions wait before execution, so the plan involves technical upgrades to prevent transactions from being reordered or front-run by bots.
MEV refers to the profit that block producers (and sometimes bots) can make by choosing which transactions to include in a block, and in what order.
Some forms of MEV like arbitrage are acceptable, but others, such as sandwich attacks and front-running, are harmful to users.
MEV has become a growing problem on the BNB Chain, similar to what Ethereum and Solana have faced.
Malicious MEV attacks can increase gas fees, worsen trade execution, and create an unfair trading environment.
BNB’s Plan
It’s natural to conclude that BNB Chain wants to stay competitive, so the users want to ensure its ecosystem is user-friendly and not dominated by predatory actors.
To further optimize the BNB Chain, a new BEP (BNB Evolution Proposal) will be implemented in 2025, aiming to reduce transaction vulnerabilities and improve mempool efficiency.
Also, the BNB Chain community is asking to spread this proposition via social media channels, and to vote yes if people agree.
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If this proposal is adopted, it could make the BNB Chain a more secure and fair trading environment.
However, if MEV attacks continue, users may lose confidence in the network, pushing them toward Ethereum L2s or Solana, which have better MEV protection.
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