Title: Skale's BITE Protocol: A Solution Against MEV Attacks in Cryptocurrency
On May 9th, the Layer1 Blockchain platform Skale launched a new solution BITE, aimed at preventing harmful MEV (Maximal Extractable Value) attacks. BITE uses threshold encryption technology to protect transactions before they are confirmed. This prevents validators from accessing transaction information to carry out flash attacks or sandwich attacks.
BITE brings the transaction ordering mechanism from traditional finance into the blockchain, ending the exploitation of information asymmetry in transaction processing. With integrated encryption layers, BITE creates a protection layer at the consensus level, differing from measures like private mempools.
According to the CEO of Skale, this is a more radical solution compared to existing measures, protecting transparency and security in the cryptocurrency ecosystem. This content is intended to provide market information and is not investment advice.
Source: https://tintucbitcoin.com/bite-ra-mat-skale-chan-dung-mev-ac-tinh/
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