SBIR Phase I: Next-Generation Maximal Extractable Value (MEV) Proof Distributed Ledger Architecture

小型企业创新研究(SBIR)项目的更广泛影响/商业潜力是确保使用分布式分类帐技术(DLT)的金融应用程序的强大消费者保护。该项目旨在改善现有的全球金融基础设施，取而代之的是一个由拟议的下一代分布式分类账架构提供动力的安全、开放、可访问的网络。访问传统金融网络是一项重大挑战，通常需要大量资金和深厚的行业关系。就DLT今天的情况而言，它仍然面临着安全支持金融应用程序的挑战。DLT漏洞可能会让用户损失数十亿美元，并导致传统金融基础设施所特有的垄断动态。该项目旨在推进分布式分类帐技术的基础，以解决这些问题，并提供可访问、安全、民主化的金融基础设施，该基础设施可以在全球范围内运行，并支持来自无法承受高昂经济成本或克服传统金融基础设施的可访问性障碍的公司的无数增值用例。该SBIR第一阶段项目旨在推进分布式分类帐技术，以安全地支持金融原始数据。现代分布式分类账中的交易信息在产生过程中是公开的，这使得验证者可以利用这些信息，有时还可以利用他们的特权地位来攻击每个金融原始人。例如，验证者利用套利机会并首先对自己的交易进行排序存在问题。财务最佳做法是将事务分散到不同的生命周期阶段，以确保消费者安全。该解决方案通过加密承诺方案为DLT带来了这些最佳实践。加密承诺方案允许用户在不披露敏感细节的情况下承诺一项行动，然而，传统的流程需要集中来协调披露的时间。这个第一阶段项目的主要研究目标和目的是证明具有现实世界延迟且没有集中计时或协调机制的分散承诺方案的可行性。拟议的架构将允许用户发起交易，而不包括发起时的敏感交易细节。如果没有敏感的交易细节，验证者将无法再利用这些信息为自己谋取利益，从而允许此架构提供提高金融应用程序安全性所需的安全和隐私。该奖项反映了NSF的法定使命，并通过使用基金会的知识价值和更广泛的影响审查标准进行评估，被认为值得支持。

The broader impact/commercial potential of this Small Business Innovation Research (SBIR) project is to ensure robust consumer protection for financial applications using distributed ledger technology (DLT). This project aims to improve upon existing global financial infrastructure by replacing it with a safe, open, accessible network powered by the proposed next-generation distributed ledger architecture. Accessing traditional financial networks is a major challenge, and often requires significant capital coupled with deep industry connections. As DLT stands today, there are still challenges for it to safely support financial applications. DLT vulnerabilities can cost users billions of dollars and is leading to the same monopolistic dynamics that are characteristic of traditional financial infrastructure. This project aims to advance the foundation of distributed ledger technology to address these issues, and deliver an accessible, safe, democratized financial infrastructure that can operate on a global scale and support the untold myriad of value-added use cases from companies that cannot sustain the high economic costs, or overcome the accessibility barriers, of traditional financial infrastructure.This SBIR Phase I project seeks to advance distributed ledger technology to safely support financial primitives. Transaction information in modern distributed ledgers is public during origination, allowing validators to exploit this information and at times their privileged position to attack every financial primitive. As an example, there are issues with validators taking arbitrage opportunities and sequencing their own transactions first. Financial best practices are to silo transactions into distinct lifecycle stages to ensure consumer safety. This solution brings these best practices to DLT through a cryptographic commitment scheme. Cryptographic commitment schemes allow users to commit to an action without disclosing sensitive details, however, the traditional process requires centralization to coordinate the timing for disclosure. The primary research goal and objective for this Phase I project is proving the viability of a decentralized commitment scheme with real world latency and no centralized timekeeping or coordination mechanism. The proposed architecture will allow users to initiate transactions without including sensitive transaction details at origination. Without sensitive transaction details, validators can no longer exploit this information for their own gain, allowing this architecture to provide the security and privacy necessary for improved safety for financial applications.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.