| Auctioneer Contract |
A smart contract designed for auctioning Ethereum block space, enabling dynamic participation and settlement. |
| ERC6909 Standard |
A specification for managing auction-related functionalities within smart contracts. |
| SafeTransferLib |
A library ensuring the safe transfer of WETH (Wrapped Ether) within smart contract operations. |
| Bidders |
Entities that participate in auctions by submitting bids for block space. |
| Manual Bids |
Bids placed by bidders manually for specific quantities and prices in an auction. |
| Settlement |
The process of concluding an auction, involving transferring owed amounts to successful bidders. |
| SDK (Software Development Kit) |
Tools and libraries provided to developers for building applications on a specific platform. |
| Testnet |
A testing network where developers can deploy and test their applications in a simulated environment without using real assets. |
| Direct Payment Method |
A straightforward payment approach where transaction fees are paid directly by the transactions included in a block. |
| Coinbase Transfer Payment Method |
A method where transaction fees and rewards are transferred to the block proposer's address via the coinbase transaction. |
| Indirect Address Payment Method |
A payment method involving the use of a different address by the builder to pay the proposer through an end-of-block transaction. |
| Intermediate Transfer Payment Method |
A two-step payment process involving an intermediary address for transferring payments to the proposer. |
| Smart Contract-Based Payment Method |
Payment processing through a smart contract, allowing for programmable distributions based on predefined rules. |
| Off-Chain Payment Method |
Payments made outside the blockchain network, possibly through other cryptocurrencies or banking systems. |
| Validator |
A network participant responsible for validating transactions and blocks on the Ethereum blockchain. |
| MEV (Miner Extractable Value) |
Value extracted by miners (or validators) through their ability to include, exclude, or reorder transactions within blocks. |
| Slashing |
A penalty mechanism where a validator's stake is reduced due to malicious actions or failure to comply with network rules. |
| Primary Market |
The initial auction market where block space is auctioned to bidders. |
| Secondary Market |
A market that operates after the primary allocation, allowing for reallocation and adjustment based on new information. |
| Uniform Price Auction |
An auction format where all winning bidders pay the same price. |
| Discriminatory Price Auction |
An auction format where winning bidders pay according to their bid prices. |
| Augmented Uniform Price Auction |
A modified uniform price auction designed to address underpricing by introducing features like elastic supply and alternative tie-breaking rules. |
| WETH (Wrapped Ether) |
A token that represents Ether 1:1, allowing for easier integration with ERC-20 compatible services. |
| Gas |
A measure of computational effort required to execute operations on the Ethereum network. |
| Gas Price |
The cost per unit of gas, paid by users to compensate for the computational energy required to process and validate transactions. |
| Gwei |
A denomination of Ether, where 1 Gwei equals 10^-9 ETH. |
| Block Proposal |
The process by which validators or miners propose a set of transactions to be included in a new block. |
| Staking |
The act of locking up cryptocurrency holdings to support the operation of a blockchain network, often in exchange for rewards. |
| Epoch |
A division of time used in blockchain networks, referring to a set period during which certain processes or updates occur. |