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Platform Terms

Term Description
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.