以太坊集中的黑暗面：塊建築商及其含義的主導地位

當一小群​​驗證者或阻止構建者主導網絡時，控制塊生產和交易驗證過程不成比例時，就會發生以太坊集中化。

Recent investigations highlight Ethereum block producers engaging in Maximal Extractable Value (MEV) tactics to maximize their profits from decentralized finance (DeFi) transactions, potentially compromising the network's decentralization and fairness. Exploiting the Best Profit Potential Through Maximal Extractable Value (MEV) Practicesmaximal extractable potential of block producers known as MEV represents the best profit they can obtain through transaction order manipulation within blocks under Proof-of-Work (PoW) mining or Proof-of-Stake (PoS) validation. This category of MEV includes three techniques: front-running, back-running, and sandwich attacks that usually result in unfavorable outcomes and higher transaction costs for regular users. Despite this fact, since Ethereum transitioned to Proof-of-Stake in September 2022 MEV extraction has reportedly stolen over 300,000 ETH in funds according to DeepChain's analysis.

最近的調查突出了以太坊塊生產商從事最大可提取價值（MEV）策略，以最大程度地利用分散融資（DEFI）交易中的利潤，從而可能損害網絡的分散和公平性。通過最大可提取價值（MEV）實踐（稱為MEV）的最大可提取潛力來利用最佳利潤潛力，這代表了他們可以通過在工作證明（POW）採礦或證明（POS）驗證的塊中通過交易訂單操縱獲得的最佳利潤。此類別的MEV包括三種技術：前運行，後運行和三明治攻擊，通常會導致不利的結果和較高的常規用戶交易成本。儘管這一事實，根據Deepchain的分析，自2022年9月以太坊轉變為2022年9月的MEV提取的資金以上的資金已偷走了超過30萬ETH。

The Dark Side of Ethereum Centralization: Dominance of Block Builders and Its Implications

以太坊集中的黑暗面：塊建築商及其含義的主導地位

Ethereum is a blockchain network that aims to be decentralized but recent studies show that the broad validator network of Ethereum is facing a concerning pattern of block production becoming increasingly centralized. Block builders built 80% of Ethereum blocks during the period from October 2023 to March 2024 with three key builders—Blockhash, Flashbot and Bepro—holding the majority control. Among them Blockhash is the leading builder having constructed around 35% of new blocks on average since October 2023 while Bepro and Flashbot each built roughly 20% to 25% of the blocks.

以太坊是一個區塊鍊網絡，目的是分散，但最近的研究表明，以太坊的廣泛驗證者網絡正面臨著一種有關阻滯生產模式的越來越集中。從2023年10月到2024年3月，建築商建造了80％的以太坊塊，其中三個主要的建築商（Blockhash，Flashbot和Bepro）持有多數控制。其中的Blockhash是領先的建築商自2023年10月以來平均建造了約35％的新區塊，而Bepro和Flashbot則建造了約20％至25％的塊。

The block producers who participate in the Proposer-Builder Separation (PBS) framework are able to distribute this work through a separation framework designed to fairly distribute rewards. However the report explains that the three main builders were able to use their dominant position to outbid others at block auctions leading to greater control over blocks produced. This situation arose because of the competitive nature of the architecture and it contributed to a single entity gaining an overwhelming presence in the market.

參與提議者建設者分離（PBS）框架的塊生產商能夠通過旨在公平分配獎勵的分離框架來分發這項工作。但是，該報告解釋說，這三個主要建築商能夠利用其主導地位來超過其他街區拍賣中的其他位置，從而使對產生的塊的控制更大。由於建築的競爭性質，因此出現了這種情況，並且導致一個實體在市場上獲得壓倒性的存在。

The implication is that the three main builders were able to accrue more capital allowing them to bid higher for blocks and thereby acquiring more blocks and further strengthening their market position in a snowballing effect that snowballed into a nearly monopolistic environment.

這意味著，三個主要的建築商能夠積累更多的資本，使他們能夠更高競標塊，從而獲得更多的障礙並進一步增強其市場地位，從而在滾雪球的效果中滾滾而滾雪球，使他們陷入了幾乎壟斷的環境。

A Final Note: Ethereum Price Prediction Could Be Impacted By MEV Exploitation

最後注意：以太坊價格預測可能會受到MEV剝削的影響

The last five-minute candlestick chart of Ethereum price displays an uptrend following a strong rebound from its crucial support at $1,875. The price maintained an upward trajectory by forming progressively higher lower positions before it crossed the resistance level at $1,915 and reached a peak of around $1,950. When RSI dropped into oversold areas it signaled buying opportunities and signaled selling conditions when approaching overbought regions. Bulls signs emerged from multiple golden crossovers within the MACD pattern which corresponded to higher price points and death crosses predictably signaled small price drawdowns.

以太坊價格的最後五分鐘燭台圖表顯示了上升趨勢，其關鍵支持的強勁反彈為1,875美元。價格通過在越來越高的較低位置越過阻力水平為1,915美元並達到1,950美元左右的峰值之前，保持了向上的軌跡。當RSI跌入超賣區域時，它標誌著購買機會，並在接近超買區域時表示銷售條件。公牛的跡象來自MACD模式中多個黃金跨界車的跡象，這對應於更高的價格點和死亡交叉，可預測的標誌著小價格下降。

At present Ethereum keeps its price above the broken resistance which is now operating as support for the market. Persistent bullish market behaviors and sustained ETH prices above $1,930 could result in a price re-evaluation of the recent $1,950 high before reaching the important price milestone of $2,000. A decline below this support could indicate a steeper fall to $1,900 and potentially reach $1,880 if market sellers exert pressure through a $1,915 price break. Given that both the RSI and MACD indicators currently display neutral signals market sentiment can determine the breakout direction.

目前，以太坊將其價格保持在電阻損壞的範圍之上，而電阻現在正在作為對市場的支持。持續的看漲市場行為和持續的ETH價格高於1,930美元，可能會導致價格重新評估最近的1,950美元高，然後才達到2,000美元的重要價格里程碑。低於此支持的下降可能表明，如果市場賣家通過1,915美元的價格下跌，則跌至1,900美元，並可能達到1,880美元。鑑於RSI和MACD指標當前都顯示中性信號市場情緒都可以決定突破方向。