Proposer-Builder Separation

Before PBS, validators both built and proposed blocks - giving them direct MEV extraction power and creating centralization pressure. PBS separates these roles: specialized builders compete to assemble the most valuable block, and validators simply pick the highest bid.

MEV-Boost Block Flow

Watch how a block moves from builders through relays to the proposer. Click animate to see the bid auction in action.

Block Building Simulator

Winning Bid
-
Proposer Revenue
-
Builder Margin
-

Builder Market Share

Approximate market share based on recent Ethereum blocks. Concentration is a key censorship risk.

Relay Trust Model

Trusted Relays (Current)
  • Relay sees full block contents
  • Must be trusted not to steal MEV
  • Can censor transactions
  • Examples: Flashbots, bloXroute, Ultrasound
Optimistic Relaying
  • Relay forwards block header first
  • Body revealed after proposer commits
  • Reduces latency by ~100ms
  • Builder penalized if block is invalid
ePBS (Enshrined)
  • No trusted relays needed
  • PBS is a protocol-level mechanism
  • Inclusion lists for censorship resistance
  • Part of Ethereum's long-term roadmap

MEV-Boost vs ePBS

Feature MEV-Boost ePBS
Trust modelTrusted relaysTrustless
ImplementationOut-of-protocolIn-protocol
Censorship resistanceRelay-dependentInclusion lists
Latency~200ms relay overheadProtocol-native
StatusLive since 2022Research / EIPs

PBS Stats Dashboard

Blocks via MEV-Boost
~92%
Avg MEV per Block
~0.05 ETH
Top-2 Builder Share
~58%
Active Relays
8