Giga Builder is an independent Ethereum block builder. It doesn’t require Flashbots authentication and supports submitting bundles and private raw transactions, canceling bundles from being put on-chain, and calling a bundle (simulating it against a specific block number).
In the circumstances where 90% of the Ethereum block production is distributed between only two builders, Titan and Beaver, the Giga Builder goal is increasing the Ethereum network decentralization via working as an unaffiliated block builder. The increased competition is supposed to improve the quality of the builders’ work and minimize the risks associated with centralization where a sudden shutdown of one of the dominating actors or coordinated attack on the network can have serious aftermath for the entire ecosystem.
Another Giga Builder’s goal is increasing inclusivity on Ethereum. Unlike most block builders, it doesn’t prioritize transactions so that private transactions get enhanced circulation.
Ethereum Block Builders
Ethereum block builders became crucial for the Ethereum blockchain functioning after the introduction of the proposer-builder separation (PBS). It outsourced block creation from validators to block builders who compete with each other for building the most profitable and efficient blocks earlier than others.
Block builders use algorithms and simulations to arrange transactions from mempools in bundles, prioritizing transactions in the way to maximize the profit. The characteristics that give transactions a priority for block builders:
- High gas price as it grants builders higher reward
- Small size as it allows to maximize the transactions number in the block
- DeFi transactions, token snipes, and MEV (maximal extractable value) transactions are more lucrative for builders
On top of maximizing profitability block builders must check the validity of data and correct order of transaction in the blocks. Builders buy the blockspace of validators to propose the execution payloads to the blockchain using relays. The need to bid for and buy the blockspace makes the entrance to block building demanding. It may cost above 15 ETH.
External links
See Also on BitcoinWiki
