• Coins
    • Bitcoin
    • Dogecoin
    • Ethereum
    • Litecoin
    • Ripple
    • Tron
    • NFT
  • Cryptonews
  • Blockchain
  • Metaverse
  • Regulation
  • Market Cap
What's Hot

Top 5 NFTs Under 1 ETH To Buy in February 2023

02/03/2023

Ethereum price claims for $1.8K mark: Will ETH win?

02/03/2023

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Trending
  • Top 5 NFTs Under 1 ETH To Buy in February 2023
  • Ethereum price claims for $1.8K mark: Will ETH win?
  • Binance Coin, Helium, and Orbeon Protocol lead market gains
  • Yuga Labs Founder Steps Down From Operations For This Reason
  • Affyn Reveals New Cities for NEXUS World Metaverse
  • Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations
  • Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021
  • Preserving and reinventing music festival legacy in the metaverse
Facebook Twitter Instagram
Center Crypto NewsCenter Crypto News
Demo
  • Coins
    1. Bitcoin
    2. Dogecoin
    3. Ethereum
    4. Litecoin
    5. Ripple
    6. Tron
    7. NFT
    8. View All

    Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

    02/02/2023

    Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

    02/02/2023

    Can Bitcoin (BTC) continue the bullish rally for the entire 2023?

    02/02/2023

    FED To Put Off Interest Rate Hikes, Bitcoin Rallies: Here’s Why

    02/02/2023

    Will DOGE reach $1 in 2023?

    01/31/2023

    Will Dogecoin (DOGE) break the long-term support of $0.05?

    12/19/2022

    Dogecoin surges 9%; Will DOGE outperform other altcoins?

    11/29/2022

    Dogecoin (DOGE) takes support from the 200 EMA curve!

    11/21/2022

    Ethereum price claims for $1.8K mark: Will ETH win?

    02/03/2023

    Total Ethereum Staked On Lido Finance Reaches New Milestone

    02/01/2023

    Ethereum Hovers Above $1,600, What’s The Next Move?

    01/26/2023

    Number Of New Ethereum Validators Remains Flat Ahead Of Shanghai Upgrade

    01/25/2023

    LTC is all set to surpass the $100 mark!

    01/31/2023

    Can Litecoin (LTC) surpass the $82 mark in the third attempt?

    01/12/2023

    Litecoin (LTC) outperforms its peers and showcases huge potential!

    01/04/2023

    Litecoin lacks a buying spree; Support remains relatively stronger

    12/08/2022

    SEC settles on security claim in LBRY case; community calls it a big win for crypto

    01/31/2023

    New Ripple president says her job is to continue to scale amid crypto winter

    01/27/2023

    Circle, Ripple reflect on Davos 2023

    01/26/2023

    Ripple, Binance impersonators target XRP holders via fake staking program

    01/25/2023

    Is it time for a long position in TRX?

    02/01/2023

    TRON spikes 5% today: Can TRX breakout continue?

    01/09/2023

    TRON is likely to regain its previous support of $0.06

    12/15/2022

    TRON (TRX) price plunge may be on the horizon

    12/08/2022

    Top 5 NFTs Under 1 ETH To Buy in February 2023

    02/03/2023

    Yuga Labs Founder Steps Down From Operations For This Reason

    02/02/2023

    5 Newly Launched NFT Projects That May Skyrocket Next

    02/02/2023

    Premier League Signs NFT Deal With This Ethereum-based Game

    02/01/2023

    Top 5 NFTs Under 1 ETH To Buy in February 2023

    02/03/2023

    Ethereum price claims for $1.8K mark: Will ETH win?

    02/03/2023

    Binance Coin, Helium, and Orbeon Protocol lead market gains

    02/03/2023

    Yuga Labs Founder Steps Down From Operations For This Reason

    02/02/2023
  • Cryptonews

    Binance Coin, Helium, and Orbeon Protocol lead market gains

    02/03/2023

    Crypto goes without any mention in the 2023 Union Budget

    02/02/2023

    ENS Domains can now be accessed via OVER’s Marketplace

    02/01/2023

    Orbeon Protocol, ApeCoin and Shiba Inu

    01/31/2023

    FlokiFi locker crosses $9 million in TVL

    01/30/2023
  • Blockchain

    KardiaChain partners with Vibranium Audits & revolutionizes dApp

    02/02/2023

    Djed goes live on Mainnet, beginning a new era of stablecoins

    02/01/2023

    Aave deploys V3 on Ethereum mainnet to mitigate user risk

    01/30/2023

    COTI makes an invaluable contribution to the boosting of Djed

    01/30/2023

    Moonbeam Foundation gets a new Kusama parachain lease

    01/27/2023
  • Metaverse

    Affyn Reveals New Cities for NEXUS World Metaverse

    02/02/2023

    Preserving and reinventing music festival legacy in the metaverse

    02/02/2023

    Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

    02/02/2023

    How AI can make the metaverse a more interactive space

    01/31/2023

    World’s Biggest Demo Drop in The Sandbox

    01/31/2023
  • Regulation

    US lawmakers renew request for answers from Silvergate on FTX: Report

    02/01/2023

    Panama’s Supreme Court to rule on cryptocurrency legislation

    01/30/2023

    CFTC’s Johnson urges Congress to expand commission’s crypto oversight powers

    01/28/2023

    Genesis sues Roger Ver for $20M over unsettled crypto options trades

    01/26/2023

    NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

    01/24/2023
  • Market Cap
Center Crypto NewsCenter Crypto News
Home»Coins»Ethereum»Flashbots Wants to Raise $50 Million, Investors Must Pitch
Ethereum

Flashbots Wants to Raise $50 Million, Investors Must Pitch

By 01/20/2023No Comments0 Views
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


Flashbots is seeking to raise $50 million with a $1 billion pre-money valuation, according to The Block, citing sources aware of the deal.

Pitch To Flashbots For A Chance to Invest

As they look to crowdfund, it has been revealed that Flashbots is doing a “reverse pitching” where interested investors have to pitch, not the other way around. In this arrangement, investors confident of Flashbots’ prospects must explain, in detail, why they should have a slot in this investment round.

Eventually, the goal is to raise between $30 million and $50 million in “equity investment,” pushing the firm’s valuation to unicorn status. Flashbot plans to split this investment round into two.

Although Paradigm didn’t respond publicly to the publication’s request for comment or comment on the inquiry, details reveal that the crypto fund was among the first to show interest. They participated in Flashbots’ seed sale in 2020. However, Flashbots didn’t indicate the amount raised in the seed sale. 

Flashbots is a research and development organization claiming to negate the effects of maximum extraction value (MEV) in account-based blockchains like Ethereum and the BNB Smart Chain (BSC).

Ethereum Price Chart | Source: ETHUSD on Trading View

Specifically, Flashbots focuses on Ethereum, where the costs of MEV can be high considering the high on-chain activity and the impact of gas fees, which is also relatively high versus other more scalable networks, including BSC. Their involvement, Flashbots’s documents explain, avoids the “existential risks MEV could cause to state-rich blockchains like Ethereum.”

Tackling MEV

MEV in blockchains is the maximum value that can be extracted from block production after validators, tasked with confirming transactions and securing the network, include or even re-order transactions in a block.

Unlike Bitcoin, where transaction order is given, in Ethereum and similar networks, ordering is haphazard. It means profit-seeking validators can prioritize transactions tagged with higher fees.

This explains why whenever the MEV in a block is higher than the network block reward, a validator can decide to re-order transactions in a block, creating vectors for possible centralization and exploitation.

Related Reading: ViaBTC Capital | Reasons Behind Solana’s Frequent Downtime: Design Flaws in the Gas Economy

Flashbots curbs this problem using MEV Boost. It is software allowing builders to auction blocks to validators, averting MEV centralization. Each party earns a fee for their contribution.

Flashbots’s recent open source tool, Single Unifying Auctions for Value Expression (SUAVE), further decentralizes and avails, to everyone, including competitors, the MEV Boost.

The reason for open-sourcing SUAVE is novel and meant to help the entire ecosystem grow stronger by proper decentralization.

In Devcon Bogota, Philip Daian of Flashbots said:

“So, we’re going to use MEV as this decentralized engine in the long term to make sure the users get the best execution on their trades in a way that will make TradFi look embarrassing very shortly.”

Feature Image by The Block, Chart from Trading View

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

Related Posts

Ethereum price claims for $1.8K mark: Will ETH win?

02/03/2023

Total Ethereum Staked On Lido Finance Reaches New Milestone

02/01/2023

Ethereum Hovers Above $1,600, What’s The Next Move?

01/26/2023

Leave A Reply Cancel Reply

Top Posts
Cryptonews

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023
Bitcoin

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

02/02/2023
Bitcoin

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

02/02/2023

Subscribe to Updates

Get the latest Hot news from Center Crypto about Bitcoin, Altcoin, NFT, Market Updates Etc

Advertisement
Demo
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Top 5 NFTs Under 1 ETH To Buy in February 2023

02/03/2023

Ethereum price claims for $1.8K mark: Will ETH win?

02/03/2023

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023
Get Informed

Subscribe to Updates

Get the latest Hot news from Center Crypto about Bitcoin, Altcoin, NFT, Market Updates Etc

© 2023 ThemeSphere. Designed by ThemeSphere.
  • Terms & Conditions
  • Contact
  • Privacy Policy
  • DMCA

Type above and press Enter to search. Press Esc to cancel.