What is Eden Network?
The Eden Network is a priority trading network that protects Ethereum traders from malicious MEVs and arbitrary changes in the order of transaction priority. Backed by a large pool of Ethereum's largest miners, Eden creates new incentives for "blockpackers" after implementing EIP-1559 and redistributing MEVs more equitably.
-Protect users against malicious MEVs. In which, MEV (Miner Extractable Value) can be understood as the profit that miners earn by taking advantage of their powers. Miners do not need to process transactions according to the time a user places an order on-chain, they can prioritize transactions that pay higher fees.
-Makes transactions on dapps built on Ethereum more secure for ordinary users.
-Improve the income of miners on the Ethereum platform and increase the security of the network.
-The network will be launched with support from some of ETH's largest mining pools and a strong community including some of the biggest projects in the crypto space.
By improving the security and processing of transactions for traders, along with providing reliable access to preferred block information for DeFi applications and providing an additional revenue stream. supplement for miners. Eden Network acts as a core upgrade for all stakeholders on the Ethereum network.
The main challenges that have been plaguing the Ethereum community for months – Dark Forest Game, malicious MEVs, and a sharp drop in miner revenue after the EIP-1559 harkfork – have all been subtly addressed by the Eden Network. , while maintaining the consensus of the chain and improving the security of Ethereum.
EIP-1559 and Consensus Considerations
The ordering of transactions within a valid block is an optionality afforded to block producers under Ethereum’s consensus rules. Eden Network’s block production preserves the transaction fee mechanism of EIP-1559, and leaves transaction ordering to the distribution of EDEN token balances across addresses. In particular, every transaction in an Eden Network block must pay the Ethereum base fee, denominated in ETH, and the inclusion of such transactions participate in EIP-1559’s block size and base fee recalculations. As such, Eden Network blocks are a strict subset of the set of valid, potential Ethereum blocks that are acceptable under the consensus rules for a specific block height.
The Eden Network also incentivizes block producers to not engage in network-antagonistic behavior such as time-bandit attacks or attempts to artificially reduce the base fee. Producers that engage in such behavior jeopardize all future revenue from the Eden Network, and thus greatly raises the opportunity cost of antagonistic actions.
Block Producer Reward Procedure
For a given block producer that participated in Eden Network honestly over the course of an epoch, that block producer is “owed” some EDEN reward according to the emission schedule in proportion to their contribution to all produced Eden blocks. The exact calculation of owed balances is performed in a decentralized manner by a subgraph on The Graph.
To remit payments, an admin address generates a Merkle tree of these balances and posts the root of the tree to a distributor contract. Each new distribution mints a non-transferable ERC-721 NFT owned by the distributor contract whose metadata is an IPFS URI to the full set of Merkle proofs. Any block producer (or their delegated claimer account) can present the Merkle proof for their address to the distributor to claim their rewards
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