BuilderNet Aims to Solve Ethereum’s Centralized Block Problem

Hey there! Big news in the world of Ethereum block building—Flashbots has just launched BuilderNet, a decentralized network aiming to shake things up and solve some major issues on the Ethereum blockchain.

So, what’s the deal? Well, it turns out that two builders, Beaverbuild and Titan Builder, have been responsible for a whopping 88% of all Ethereum blocks lately. That’s a lot of power in just a few hands! BuilderNet is stepping in to change that and make block building more collaborative and decentralized.

This new development is a game-changer because it’s designed to tackle censorship and exclusive deals that have been causing some trouble on the network. According to Coinbase’s protocol specialist Viktor Bunin, this is “absolutely massive” for Ethereum.

You may be wondering how BuilderNet actually works. It’s based on a “multioperator” system where multiple parties work together to create blocks in a secure environment. This not only ensures the integrity of transactions but also redistributes value back to users.

Flashbots, along with Beaverbuild and Nethermind, are at the helm of the first release of BuilderNet. And the best part? They’re planning to make BuilderNet even more open and censorship-resistant in future updates.

With nearly half of all Ethereum blocks facing censorship issues in the past few months, it’s clear that a change was needed. BuilderNet is here to shake things up and pave the way for a more decentralized future in block building.

Exciting times ahead for Ethereum—stay tuned for more updates on how BuilderNet will revolutionize the blockchain!