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In this Web3/Blockchain Development Tutorial/Guide video, you will learn What Is A MEV Attack EXPLAINED.
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What Is MEV Explained: https://www.youtube.com/watch?v=Nr5hHR7mJIs&pp=ygU7d2hhdCBpcyBtZXYgZXhwbGFpbmVkIC0gZXhwbG9yZSB3ZWIzIHlvdXR1YmUgY2hhbm5lbCB2aWRlb3M%3D
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date : 2024-09-27 12:00:22
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MEV Attack: The Sneakiest Threat to Your Transaction
In the world of Web3 and blockchain, a MEV attack refers to a type of heist where malicious actors aim to manipulate transaction orders for their own gain. Specifically, MEV stands for “Maximum Extractable Value,” which is the financial advantage gained by manipulating these transactions.
Imagine a case where a miner or node on the blockchain decides which transactions to prioritize based on the fees paid. High-fee transactions get bundled together, while lower-fee ones are delayed. This creates an unfair scenario where some users have their transactions delayed or even stalled, while others get precedence. The attacker benefits by paying higher fees to advance their transactions, leaving behind those with lower fees to wait.
MEV attacks can lead to increased blockchain fees, delayed transactions, and even censorship. An attacker can strategically manipulate orders to delay or cancel opponents’ transactions, giving themselves an unfair advantage. A blockchain’s fee structure will rise as users are eager to get their transactions added to the next block to avoid delays.
In conclusion, MEV attacks arise from the manipulation of transactions by miners or nodes with the goal of extracting maximal value. As a DeFi developer, understanding and addressing MEV attacks are crucial to maintaining a robust and fair blockchain ecosystem.