The “Proposer-Builder Separation (PBS)” solution and the “Enshrined Proposer-Builder Separation (ePBS)” solution represent significant progress in the development of Ethereum, while the introduction of PEPC and Optimistic Relaying further enhances the flexibility and adaptability of the PBS framework. Crypto researcher YQ provides a brief overview of the concepts and principles behind these solutions.
“Protocol-Enforced Proposer Commitments (PEPC)” aims to strengthen the market structure of Ethereum’s PBS by providing proposers with a flexible framework to make their own commitments, which are then guaranteed by the protocol. However, there are several outstanding issues in the practice of PEPC, including builder’s payment commitments and how PEPC matches the captured value of the protocol. Optimistic Relaying is an iterative way of implementing PBS, which provides a “bottom-up” approach to building PBS. It utilizes the existence of mev-boost and mev-boost relayers to gradually move towards a complete implementation of ePBS. This approach allows for testing and reducing risks associated with full ePBS functionality while maintaining agility. Overall, it is an innovative approach that can gradually implement ePBS in Ethereum, reduce the responsibility of relayers, improve operational efficiency, and make mev-boost more sustainable.”
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