Fair Sequencing Services
summary
Chainlink plans a Fair Sequencing Service that moves ordering off a single miner into a decentralized committee of oracle network committees that accept encrypted transactions, order them, then threshold decrypt, implementing secure causal ordering to prevent payload front‑running and adding Iquitas protocols to order by reception by a configurable supermajority. Metadata leakage and blind front‑running remain risks; Iquitas mitigates timing attacks but is sensitive to network-level adversaries. Designed for L1 pre‑processing and rollups.
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chapters (10)
- 0:00Intro
- 0:34My view of MEV
- 2:40Transaction ordering: Current model
- 3:35Transaction ordering: Impending model
- 4:21Transaction ordering in FSS
- 5:11How to compose committee?
- 7:01FSS: Phase One
- 8:21Secure causal ordering (atomic broadcast)
- 9:46FSS Phase Two: +Aequitas
- 12:22Where can FSS be used?
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