Jito Foundation has just launched the Block Building Market (BAM) to optimize the block building and transaction ordering mechanisms on the Solana Blockchain with Trusted Execution Environment technology that secures trading strategies and ensures transparency.
BAM is a modular system consisting of three main components: BAM nodes that handle private transaction ordering, verification nodes running upgraded clients, and an integrated programming interface for developers. It is expected to be deployed on the mainnet in the coming weeks.
MAIN CONTENT
BAM is designed to optimize and make the block building process on Solana transparent.
Application of Trusted Execution Environment technology to secure user trading strategies.
The system supports verification nodes and developers participating in value distribution through customizable mechanisms.
What is the Block Building Market (BAM) and why is it important for Solana?
BAM is a new platform that helps improve the on-chain block building and transaction ordering process for Solana, aiming to enhance performance and reliability.
Jito Foundation developed BAM based on Trusted Execution Environment technology to protect privacy while ensuring that the transaction ordering process can be verified. The CEO of Jito Foundation stated that the adoption of BAM will contribute to increased transparency and enhanced user experience within the Solana ecosystem. This system is expected to be officially deployed on the mainnet in the coming weeks, marking an important advancement in blockchain technology.
How does BAM work and what components does it include?
BAM has a modular architecture with three key components: BAM nodes, verification nodes, and a programming interface for developers.
Node BAM is responsible for privately ordering transactions, protecting users' trading strategies. The verification node performs checks and runs an upgraded client version to ensure the validity of blocks. The application programming interface (API) allows developers to build custom trading logic, enabling them to maximize the system to create innovative applications. According to the Technical Director of Jito Foundation, this modular model not only enhances scalability but also promotes a more sustainable Solana ecosystem.
What participants are involved in BAM and how is value distributed?
BAM is not only for BAM nodes but also for verification nodes and developers, all of whom can participate in sharing the benefits from the system.
In the initial phase, organizations in the Solana ecosystem like Figment and Helius will act as verification nodes, contributing to ensuring transparency and stable operation of BAM. Individuals or organizations participating in staking and operating verification nodes will receive a share of the value generated from this activity. Meanwhile, developers can customize trading logic to receive exclusive benefits, contributing to the creation of a wider variety of DeFi products based on BAM infrastructure.
BAM is a significant advancement that helps Solana improve efficiency and security in block building, while also opening up profit opportunities for many participating partners.
— CEO of Jito Foundation, 7/2024
What are the notable benefits of BAM for the Solana ecosystem?
BAM provides optimal privacy, transparency in the transaction ordering process, and a transparent value distribution mechanism among participants.
The application of Trusted Execution Environment technology helps protect trading strategies from leakage, while verification nodes provide authenticity through the new client version. Additionally, the value distribution model through nodes and developers helps promote collaborative dynamics within the Solana community, increasing competitiveness and innovation. Reports from experts indicate that enhancing block processing efficiency will minimize transaction delays and improve end-user experiences in an ever-expanding DeFi environment.
What role do organizations play in the initial phase of BAM deployment?
Reputable organizations in the Solana ecosystem such as Figment and Helius will serve as the first verification nodes, contributing to ensuring stability and reliability for BAM.
The choice of experienced organizations such as Figment and Helius to operate nodes shows that Jito Foundation is focused on building a platform with reputable partners. They will help test and verify data to protect the integrity of the system before expanding to more participants. This simultaneously enhances the user experience when transacting on Solana and promotes sustainable development in the future.
Frequently Asked Questions
How can BAM enhance the performance of the Solana Blockchain?
BAM improves block building and transaction ordering mechanisms using high-security technology, reducing latency and increasing transparency, helping Solana process transactions more efficiently.
What role does Trusted Execution Environment (TEE) technology play in BAM?
TEE protects personal trading strategies from exposure while allowing verification nodes to transparently and reliably check the ordering process.
Who can participate and benefit from BAM?
BAM nodes, verification nodes, and developers can all participate in BAM, receiving a share of the distributed value based on contributions and customized trading logic.
When will BAM officially run on the Solana mainnet?
Jito Foundation plans to launch BAM on the mainnet in the coming weeks based on the announcement schedule in July 2024.
What is the role of Figment and Helius in BAM?
Figment and Helius are the first verification nodes, playing a role in checking and ensuring the accuracy and security of blocks built by BAM.
Source: https://tintucbitcoin.com/solana-ra-mat-bam-cai-tien-xay-block/
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