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List:       bitcoin-dev
Subject:    Re: [bitcoin-dev] CTV BIP Meeting #9 Notes
From:       Bram Cohen via bitcoin-dev <bitcoin-dev () lists ! linuxfoundation ! org>
Date:       2022-05-21 15:37:51
Message-ID: CAHUJnBCjYpVVsR2gVzsODwVgjmFCsTEmi7=KYAm4i32j5sK3RA () mail ! gmail ! com
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On Thu, May 19, 2022 at 9:17 AM alicexbt via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

>
> MEV could be one the issues associated with general covenants. There are
> some resources on https://mev.day if anyone interested to read more about
> it.
>

One of the top things to do about MEV is to make all transactions in a
block simultaneous, so for example if you have a price oracle it can be
limited to only reporting one price per block so although it can be
manipulated to either report a high or low price it can't simultaneously do
both. In Bitcoin ordering is strictly enforced but there's a loophole that
things which happen in the same transaction do happen simultaneously, so
future extensions could be made to only sign things they care about and are
okay with transactions getting aggregated just by smushing them together.
That of course requires a new signature opcode, because current signatures
always sign the whole transaction.

[Attachment #5 (text/html)]

<div dir="ltr"><div dir="ltr">On Thu, May 19, 2022 at 9:17 AM alicexbt via \
bitcoin-dev &lt;<a href="mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@lists.linuxfoundation.org</a>&gt; \
wrote:<br></div><div class="gmail_quote"><blockquote class="gmail_quote" \
style="margin:0px 0px 0px 0.8ex;border-left:1px solid \
rgb(204,204,204);padding-left:1ex"><div><div \
style="font-family:arial;font-size:14px"><br></div><div \
style="font-family:arial;font-size:14px"><span>MEV could be one the issues associated \
with general covenants. There are some resources on <a rel="noreferrer nofollow \
noopener" href="https://mev.day" target="_blank">https://mev.day</a> if anyone \
interested to read more about \
it.</span></div></div></blockquote><div><br></div><div>One of the top things to do \
about MEV is to make all transactions in a block simultaneous, so for example if you \
have a price oracle it can be limited to only reporting one price per block so \
although it can be manipulated to either report a high or low price it can&#39;t \
simultaneously do both. In Bitcoin ordering is strictly enforced but there&#39;s a \
loophole that things which happen in the same transaction do happen simultaneously, \
so future extensions could be made to only sign things they care about and are okay \
with transactions getting aggregated just by smushing them together. That of course \
requires a new signature opcode, because current signatures always sign the whole \
transaction.</div></div></div>



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