From 898e4d5c0f26cb8fc109b664ac15576f5ebdbc1c Mon Sep 17 00:00:00 2001 From: bt3gl <1130416+bt3gl@users.noreply.github.com> Date: Mon, 28 Feb 2022 14:28:51 +0000 Subject: [PATCH] Update README.md --- README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/README.md b/README.md index a9e3b91..e72d836 100644 --- a/README.md +++ b/README.md @@ -59,7 +59,7 @@
-* **Mempool**: the set of pending, unconfirmed transactions in the EVM. +* **Mempool**: the set of pending, unconfirmed transactions in the EVM... when someone sends a transaction in the blockchain, there is a delay between the time when the transaction is broadcasted to the network and when it is actually mined into a block. During this period, transactions sit in a pending transaction pool, the mempool, where contents are visible to everyone. * **MEV**: Maximal (or miner) Extractable Value * **Frontrunning**: also known as Priority Gas Auctions (PGAs), when a miner steals a profitable opportunity (such as arbitrage) for themselves by sending the same transaction with a higher gas price. For example, a transaction A is broadcasted with a higher gas price than an already pending transaction B so that A gets mined before B (eg. to snatch a Uniswap price arbitrage trade to rebalance a pool). * **Backrunning**: a transaction A is broadcasted with a slightly lower gas price than already pending transaction B so that A gets mined right after B in the same block. (eg. to execute a DyDx liquidation after a price oracle update that triggers a DyDx loan to go under the required collateralization ratio).