In this short note, we show a gap between the welfare of a traditionally 'fair' ordering, namely first-in-first-out (an ideal that a number of blockchain protocols strive to achieve), where the first transactions to arrive are the ones put into the block, and an 'optimal' inclusion that is, at least approximately, welfare-maximizing, such as choosing which transactions are included in a block via an auction. We show this gap is positive under a simple model with mild assumptions where we assume transactions are, roughly speaking, uniformly drawn from a reasonable distribution.
翻译:在这篇简短的注释中,我们展示了传统上“公平”排序(即先进先出,这是许多区块链协议力求实现的目标)与“最优”排序(例如通过拍卖选择哪些交易被纳入区块,至少近似地实现福利最大化)之间的福利差距。我们在一个简单模型下证明,在温和假设下(大致假设交易从合理分布中均匀抽取),这一差距为正。