Skale Labs launches BITE protocol to dam MEV on the consensus layer

Blockchain developer Skale Labs has introduced its try to deal with Maximal Extractable Worth (MEV).

Known as Blockchain Built-in Threshold Encryption, or BITE, the protocol operates on the consensus layer, encrypting transactions in order that not even validator nodes can see what transactions they're together with of their blocks.

As a result of transactions are encrypted earlier than they enter the mempool and solely decrypted by validators after block finalization, BITE stops front-running, sandwich assaults, and different transaction exploits.

BITE’s creator and Skale Labs’ co-founder Stan Kladko claims that is the primary time MEV has been handled on the consensus stage with out sacrificing efficiency or decentralization.

“Blockchain gaming has confronted the identical transaction vulnerabilities as DeFi, the place gamers buying and selling property or making strategic strikes may be exploited by way of front-running and different MEV ways,” commented Skale Labs’ CEO Jack O’Holleran.

“BITE Protocol creates the basic infrastructure for actually truthful gaming, the place no participant can see transaction contents earlier than finalization. This prevents each refined gamers and bots from gaining unfair benefits, enabling sport builders to design gameplay experiences the place strategic timing and truthful execution are assured – opening the door for mainstream web3 gaming adoption.”

Information fiend and editor-at-large Jon Jordan has been writing/talking in regards to the video games trade since 1999. He predicts blockchain is the following nice disruption and was the launch editor of BlockchainGamer.biz. Jon is a video games trade veteran: ex-Edge, Develop, Gamasutra, In search of Alpha, PocketGamer.biz. You may contact him through [email protected]

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