# [Debate] Steelman Challenge: we are all building the same damn thing! 2

- Channel: [ZuBerlin](https://streameth.org/zuberlin)
- Date: 2024-06-13
- Duration: 31:07
- Topics: blockchain, ethereum, transaction ordering, MEV mitigation, decentralized systems
- Watch: https://streameth.org/watch/666b141c07f92b086c2cb330
- Download: https://vod-cdn.lp-playback.studio/raw/jxf4iblf6wlsyor6526t4tcmtmqa/catalyst-vod-com/hls/d974h0ejgm8su1vr/1080p0.mp4

## Description

Clip The video discusses three philosophies of mitigating maximal extractable value (MEV) and their implications for blockchain design, particularly in terms of transaction ordering policies. The first philosophy emphasizes blockchains as incentive engines, focusing on proposer incentives for healthy block production. The second views blockchains as timestamping services, prioritizing first-in, first-out (FIFO) transaction ordering to reflect real-world time. The third treats blockchains as auction platforms, ensuring fair and decentralized auctions through priority ordering.

Each philosophy leads to different MEV mitigation strategies. Proposal builder separation (PBS) aligns the block proposer with users and applications to create value-maximizing blocks. FIFO aims to reduce MEV by minimizing latency and discretion in transaction ordering. Priority ordering mitigates MEV through fair auctions that allow users and applications to capture MEV themselves.

The video further explores how these philosophies are implemented in current blockchain systems and the challenges they pose in achieving decentralization while mitigating MEV effectively. It concludes that while no single philosophy has all the answers, it's crucial to consider how improvements under one paradigm may affect the others when making protocol changes.