Differences Between Ethereum and mev-commit Chain
Introduction
Mev-commit chain is an Ethereum-compatible blockchain designed to provide faster transaction processing and lower fees. It aims to optimize the extraction of Maximal Extractable Value (mev) by utilizing a specialized architecture. This document highlights the key differences between Ethereum and mev-commit chain.
Overview
The following table provides an overview of the key features and differences between Ethereum and mev-commit chain:
| Feature | Ethereum | Mev-Commit Chain |
|---|---|---|
| Mempool | Larger mempool size | Smaller mempool size, transactions may be encrypted, limited chain mempool visibility due to fewer chain node operators |
| Validators | Decentralized proof of stake system with a large number of validators | Centralized setup with only two validator nodes creating blocks in a round-robin fashion, allowing for faster consensus and block production |
| Opcodes | Supports Ethereum opcodes | Supports all Ethereum opcodes, ensuring compatibility with existing Ethereum smart contracts and tools |
| Consensus | Uses proof of stake consensus, prioritizing decentralization | Uses clique proof of authority consensus, where authorized validators take turns creating blocks, prioritizing performance and fast block times |
| Block time | 12 seconds | 200 milliseconds |
| Transaction Fees | Supports both legacy and EIP-1559 transactions, with base fee being burned and priority fee going to the proposer/signer | Supports both legacy and EIP-1559 transactions, with base fee directed to the protocol treasury and priority fee going to the proposer/signer |
Transaction Fees
Like Ethereum, mev-commit chain supports both legacy and EIP-1559 transactions, with a preference for EIP-1559.
The allocation of fees differs:
- The base fee is directed to the protocol treasury, instead of being burned.
- The priority fee goes to the proposer/signer, as in Ethereum.
Mempool
Mev-commit chain’s mempool is smaller compared to Ethereum’s. While the mempool is public, transactions may be encrypted, and chain mempool visibility is limited due to the presence of only a few chain node operators. This reduces the potential for front-running and other mev-related activities.
Number of Validators
Mev-commit chain currently operates with only two validator nodes that create blocks in a round-robin fashion. This centralized setup allows for faster consensus and block production. However, it also introduces a higher level of trust in the validators compared to Ethereum’s decentralized proof of stake system.
Opcodes
Mev-commit chain supports all Ethereum opcodes, as it consists of Ethereum nodes. Opcodes are low-level instructions that define the operations a blockchain can perform. By supporting all Ethereum opcodes, mev-commit chain ensures compatibility with existing Ethereum smart contracts and tools.
Consensus
Mainnet Ethereum uses proof of stake, while mev-commit chain currently uses clique proof of authority consensus. In clique proof of authority, a set of authorized validators take turns creating blocks. This consensus mechanism prioritizes performance and fast block times over decentralization.
Conclusion
Mev-commit chain offers a specialized blockchain environment optimized for mev extraction. With faster block times, a different fee structure, and a centralized validator setup, mev-commit chain provides an alternative to Ethereum for use cases that prioritize speed and mev optimization.