SKALE's BITE Blocks MEV At Its Core

Stan Kladko at SKALE (SKL) is sick of having an open to the public mempool be a free-for-all where traders can have a look at your moves before you make them. Which is how sandwich attacks (front running) happen.

His solution? BITE Protocol. 

BITE Protocol is like putting all of your transactions in an envelope that can't be opened until everything you want in there, is in there. 

The issue is supremely frustrating – not only does your transaction sit there vulnerable when you attempt to place a trade on most blockchains, bots and validators can see an opportunity to earn themselves some money and leapfrog over you. BITE changes the roles by hashing everything until it is back in a block. Not even the people running the transactions can peek at what’s inside until it’s a done deal. No more being front-run, or having your trade shuffled off to someone else’s advantage

Here’s how it works: Your transaction is encrypted before entering the mempool. Until it ends up in a block, it remains secret. Then and only then do the validators collaborate to decrypt it, and your trade completes as intended. The best part? Developers don’t have to learn an entirely new system or rewrite their smart contracts — it integrates nicely with existing Ethereum-like setups.

This actually opens up some neat opportunities beyond just preventing front-running. Think private auctions, gaming moves that remain secret until they are revealed, or confidential lending without workarounds. That’s about making blockchains not just transparent, but also safe places to transact without getting sniped.

SKALE will bake BITE directly into their core protocol. If it works, other networks could potentially do the same. No one, after all, consented to a future in which his trades become sitting ducks for opportunistic front-runners.

Also see: 0x Buys Flood.bid For Better Trades

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on