A Guide to Flashbots Protect Upgrade: How to Speed Up Private Transactions

Flashbots Protect is a recent Ethereum network upgrade that allows private transactions to be submitted securely and quickly. By bypassing front-running and other malicious activities, users can enjoy the security and confidentiality of private transactions. To use Flashbots Protect, follow these steps: 1. Use a wallet that supports Flashbots Protect such as Geth or Parity. 2. Set the `Flashbots-Signature` header to the transaction payload for authentication. 3. Submit the transaction to the Flashbots relay. 4. Wait for the transaction to be executed, often within a few seconds. By using Flashbots Protect, users can execute their private transactions without worrying about potential security threats or delays.

Flashbots product manager Shea Ketsdever introduced the Flashbots Protect upgrade on Twitter, which shares transactions with more builders through Protect RPC to speed up transaction processing.

Currently, all Protect transactions are sent directly to Flashbots builders, which ensures important protections such as privacy before and in the event of transaction failure. However, as the builder market becomes more decentralized, Flashbots builders are receiving a smaller share of the blocks. While this competition is beneficial for the market, it can lead to lower adoption rates for Protect users. Therefore, we are introducing a mechanism that allows users to share transactions with other builders without waiting for Flashbots builders to log in to the block. We expect this to greatly improve adoption rates.

It is important to note that order flow sharing is optional, and users can decide whether and to whom to forward transactions. Participating builders will protect shared transactions according to the principles of a fair market, including privacy, transparency, and bundled atomicity before and in the event of transaction failure. Order flow sharing is key to decentralized block building. We are excited to take the first step in bringing benefits to Protect users.

Hasu: Flashbots Protect has undergone a major upgrade: 1) Your bundle can now be shared with up to 80% of builders, resulting in a 4x speed increase compared to before; 2) The fair market principle ensures the safety of your order flow when shared; 3) The MEV you create will be returned to you through mev-share.

Reference: https://twitter.com/SheaKetsdever/status/1679126951947128832

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