Understanding the Evolution of Ethereum MEV

Ethereum's Transaction Evolution and MEV

In the early days of Ethereum, transactions were straightforward. If you wanted to send ETH (Ethereum's currency), you'd use a wallet. This transaction would broadcast across the Ethereum network, landing in the mempool – like a waiting room for transactions. Miners would then pick these transactions, prioritizing those with higher 'gas fees'. Think of gas fees as tips you give to get quicker service.