Extracting Godl [sic] from the Salt Mines: Ethereum Miners Extracting Value

@article{Piet2022ExtractingG,
  title={Extracting Godl [sic] from the Salt Mines: Ethereum Miners Extracting Value},
  author={Julien Piet and Jaiden Fairoze and Nicholas C. Weaver},
  journal={ArXiv},
  year={2022},
  volume={abs/2203.15930}
}
Cryptocurrency miners have great latitude in deciding which transactions they accept, including their own, and the order in which they accept them. Ethereum miners in particular use this flexibility to collect MEV—Miner Extractable Value— by structuring transactions to extract additional revenue. Ethereum also contains numerous bots that attempt to obtain MEV based on public-but-not-yet-confirmed transactions. Private relays shelter operations from these selfsame bots by directly submitting… 

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