Flashbots, whose software plays a pivotal role in the Ethereum blockchain ecosystem, said Friday that for the past year it has been developing a new version of the technology.
- The company announced this at Devcon in Bogota, Columbia, the biggest Ethereum conference of the year. Flashbots is a research and development team that has been working on ways to curb the potential harms of MEV – a controversial way of making money by reordering blockchain transactions.
- The new version is called "SUAVE," a codename that stands for “Single Unifying Auctions for Value Expression.”
- According to a presentation slide from Devcon, the software will be a fully decentralized block builder.
- It will be open source and EVM-compatible, supported across multiple chains.
- The Flashbots team announced that more details about SUAVE will be shared next week.
- Flashbots garnered a lot of attention recently when it decided to make open source its MEV-boost code following the U.S. Treasury Department’s decision to sanction Tornado Cash transactions. This way others could develop their own non-censoring relays.
Read more: What’s Going On With Ethereum’s MEV-Boost?
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