Thread by @LongHashVC

1/9 What if we can create @solana like UX on @ethereum?

Preconfirmations can do that by improving transaction execution, empowering users in the MEV dark forest, & fostering an efficient blockspace market.

Today, we share our analysis of preconfirmations.

Link 👇 in the 🧵

2/9 Preconfirmation is a credible and timely promise, exchanged for an economic incentive, given to a user.

Example: Include transaction A in top 10% of block X

Read the full research piece by @0xRaghav: longhash.vc/post/preconfir…

3/9 Over 90% of @ethereum blocks are finalized through mev-boost Current challenges include:
1️⃣ Value extraction from end user
2️⃣ Inclusion uncertainty for end users
3️⃣ Builder market concentration
4️⃣ Validator timing games

Preconfirmations can help solve these challenges.

4/9 We categorize the landscape based on two characteristics:

1️⃣ Whether the implementation is out-of-protocol or in-protocol
2️⃣ Whether the pre-confirmation is being provided for L1 transactions, L2 transactions or L2 blobs

5/9 For L1 transactions, Inclusion Lists(IL) and Execution Tickets(ET) have been proposed as in-protocol implementation from EF researchers.

mev-commit has been proposed as an out of protocol implementation by @primev_xyz as a network for preconfirmations.

6/9 IL was proposed by EF researchers, @mikeneuder, @VitalikButerin, @fradamt, @terencechain, @manav24_ & @potuz_eth, to improve censorship resistance.

@drakefjustin and @mikeneuder proposed ET to bifurcate block proposing and building.

7/9 For based rollups, which leverage L1 sequencing for L2 blocks, we analyze different approaches to based preconfirmations as proposed by @drakefjustin, @NethermindEth, Flashbots, @primev_xyz, @EspressoSys.

8/9 We believe that Preconfirmations will enable L2s to decentralize while maintaining good UX, elevate @ethereum transaction execution experience to be on par with rollups and address the inherent limitations of the @ethereum transaction supply chain.

9/9 We would like to thank @mostlyblocks and @umb_nat from @ChorusOne, @PaulYa5hin from @P2Pvalidator, @DougieDeLuca and @VelvetMilkman from @FigmentCapital, @MuratLite from @primev_xyz, @0xArnav from @HashKey_Capital, @pascalstichler from @ephemalabs, @daniel_taikoxyz, @mfelicepace from @SimplyStaking, @theshikhai from @LongHashVC for their valuable feedback.

https://x.com/LongHashVC/status/1800864138840928737