BITE, created by @SkaleNetwork, eliminates MEV at the consensus level.

BITE's 4 Steps:

1️⃣ Encryption: before submission, transaction data, like function calls, are encrypted client-side using BITE’s threshold encryption.

2️⃣ Consensus: once submitted, the encrypted transaction is broadcast to the network. Validators validate and collect signatures, although transaction contents remain encrypted while pending, fully obscuring the mempool from observers and validators.

3️⃣ Decryption: upon reaching consensus, a supermajority of validators can use their private shares to produce decryption shares. Combining these decryption shares reconstructs the original, unencrypted transaction data.

4️⃣ Execution & Persistence: post-execution, the transaction data remains encrypted within block explorers and accessible only viaBITE-specific JSON-RPC calls.

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