# Why You Should Be Optimistic About MEV - Shea Ketsdever

- Speakers: Shea Ketsdever
- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2025-10-09
- Duration: 22:55
- Topics: MEV, Maximal Extractable Value, Ethereum, block building, Flashbots, MEV-G, MEV-Boost, Proposer-Builder Separation, PBS, order flow, centralization, DeFi, Trusted Execution Environments, TEEs, Builderet, privacy, refunds, relays, block builder market, scalability, interoperability, user experience, spam, rollups, auctions, institutional adoption, Solana, gas market, sequencers, searchers, solvers, permissionless, decentralization
- Watch: https://streameth.org/watch/yt-1xWq7gUXL_M
- YouTube: https://www.youtube.com/watch?v=1xWq7gUXL_M

## Description

Shea Ketsdever from Flashbots presents an optimistic outlook on MEV (Maximal Extractable Value) in Ethereum, focusing on the evolution of block building. She explains how block builders determine transaction inclusion and ordering, and how MEV has historically caused issues like spam and centralization. Innovations like Flashbots' MEV-G and MEV-Boost, and the introduction of Proposer-Builder Separation (PBS), improved privacy and competition but led to new centralization risks via exclusive order flow deals.

The latest breakthrough, Builderet, leverages Trusted Execution Environments (TEEs) for verifiable, private, and decentralized block building, enabling orderflow sharing, permissionless refunds, and multi-operator resilience. Builderet addresses centralization, improves market efficiency, and supports Ethereum’s goals of scalability, user experience, and interoperability. Shea highlights Builderet’s role in scaling, reducing spam, enabling programmable block building, and supporting institutional adoption, positioning Ethereum ahead of competitors like Solana.

00:00 Introduction  
00:34 Speaker Introduction: Shea from Flashbots  
01:12 What is Block Building?  
02:27 MEV Challenges in DeFi  
03:16 Flashbots and MEV-G: Private Transactions  
04:14 Limitations and Centralization Risks  
04:38 Proposer-Builder Separation (PBS) and MEV-Boost  
05:25 Relays and the Block Builder Market  
06:23 Centralization via Order Flow Deals  
08:26 The Trust Bottleneck in Block Building  
08:45 Flashbots’ Breakthroughs: Trusted Execution Environments  
09:55 Builderet: Decentralized, Verifiable Block Building  
11:05 Multi-Operator Model and Orderflow Sharing  
12:06 Permissionless Refunds and Market Improvements  
13:07 Block Building as a Market  
13:38 Builderet’s Broader Applications  
13:59 Competing with Solana and Upgrading Ethereum  
15:03 Institutional Adoption and Custom Block Space  
16:45 Programmable Block Building on Ethereum  
18:02 Scaling Ethereum: Reducing MEV Spam  
19:51 Improving User Experience and Interoperability  
22:30 Conclusion and Call to Action

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

🇫🇷 *Pragma Cannes*
Pragma Cannes 2025 was held on July 3rd at the Carlton Cannes in Cannes, France and was an in-person summit for builders and leaders in the web3 ecosystem. Watch the full Pragma Cannes YouTube Playlist here: https://www.youtube.com/playlist?list=PLXzKMXK2aHh6jZYPY5-YIBzvMtUT3ajjI

ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. 

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

✅ Follow ETHGlobal
X: https://x.com/ETHGlobal​
Warpcast: https://warpcast.com/ethglobal
Website: https://ethglobal.com
YouTube: https://www.youtube.com/@UCfF9ZO8Ug4xk_AJd4aeT5HA 

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _  

Are you interested in Ethereum development and entrepreneurship?
👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events
🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus
📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _