Hasu and Jon bring on Mike Neuder (Ethereum Foundation) and Chris Hager (Flashbots) to discuss the design philosophy of proposer-builder separation (PBS). They first dive into the past and present implementations of PBS, including MEV-Geth and MEV-Boost on Ethereum. Then they discuss the future of PBS - whether PBS should be enshrined, protocol-enforced proposer commitments (PEPC), PBS on L2s, how to prevent censorship, and more. 
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Timestamps:
(00:00) Intro 
(01:12) What is PBS?
(05:37) The History of PBS
(08:43) MEV-Boost
(10:18) Block Production in Proof-of-Work 
(11:31) Benefits of PBS
(14:17) PBS Makes Based Rollups Viable
(16:21) PEPC & Proposer Complexity
(17:46) Other Builder Services
(19:49) PBS & Regulation
(22:48) Regulation & Encrypted Mempools
(24:38) Division of Labor is Inevitable
(26:15) Risks of PBS
(29:03) Development of COre Protocol Software
(33:31) PEPC, POB, & Alternatives to PBS
(41:53) Decentralization vs. Usefulness Tradeoff
(46:30) State of PBS in MEV-Boost
(50:51) Optimistic Relays
(52:09) Enshrined PBS (ePBS) 
(55:55) PBS on L2
(58:47) PEPC
(01:05:25) Proposer Commitments & User Intents 
(01:09:03) Concluding Remarks
(01:11:05) Recap
(01:12:06) PEPC, PEPC-Boost, & MEV-Boost+
(01:18:44) PBS From First Principles
(01:21:41) PBS is a Philosophy, Not an Implementation
(01:25:44) To Enshrine, Or Not to Enshrine?
(01:35:12) In-protocol vs. Out-of-protocol Development & Funding
(01:50:16) Censorship & Proposer Agency
(01:58:15) Outro & Disclaimer
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Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
Uncommon Core 2.0 - https://twitter.com/UCC2_xyz
Mike Neuder - https://twitter.com/mikeneuder
Chris Hager - https://twitter.com/metachris
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Relays in a post-ePBS world - https://ethresear.ch/t/relays-in-a-post-epbs-world/16278
No free lunch – a new inclusion list design - https://ethresear.ch/t/no-free-lunch-a-new-inclusion-list-design/16389
Payload-timeliness committee (PTC) – an ePBS design - https://ethresear.ch/t/payload-timeliness-committee-ptc-an-epbs-design/16054
Notes on Proposer-Builder Separation (PBS) - https://barnabe.substack.com/p/pbs
PEPC FAQ - https://efdn.notion.site/PEPC-FAQ-0787ba2f77e14efba771ff2d903d67e4#41230925420345af84f31b50d806b8ed
PEPC Open Problems - https://docs.google.com/presentation/d/12kpwAXbZqUA0fu2HnZKSesVwO31ICbgIiacHd0EQ_fk/edit#slide=id.g2401d3821ec_1_0
PBS Guild Proposal [v3 WIP] - https://collective.flashbots.net/t/pbs-guild-proposal-v3-wip/2223
MEV-Boost+/++ - https://www.blog.eigenlayer.xyz/censorship-resistance-with-restaking/
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.

An Incomplete Guide to PBS - with Mike Neuder and Chris Hager

In this episode, we explore Jon’s journey into crypto and our mutual passion for research and the writing process. We then give an overview over the key areas of crypto infrastructure today. Finally, we zoom into rollup decentralization roadmaps, and Jon shares a controversial new thesis about sequencer decentralization.
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Timestamps:
00:00 - Intro
00:02:42 - Interview start
00:03:44 - Jon's work week
00:08:04 - ChatGPT & writing
00:10:57 - Jon's start in crypto
00:14:45 - How to pick things to work on
00:17:08- Outsider's perspective on crypto
00:19:05 - Jon's research process
00:22:00 - Jon's proudest moment in crypto
00:23:06 - Crypto Infrastructure overview
00:29:58 - Why crypto infrastructure is interesting
00:35:57 - Rollup decentralization overview
00:42:44 - Challenges decentralizing the sequencer
00:47:46 - Ethereum vs Cosmos approach to governance & decentralization
00:53:35 - User ability to opt out
00:56:37 - Staking vs. governance deciding sequencers
01:08:31 - L3s
01:13:34 - Superchain
01:16:38 - Summary of rollup decentralization
01:21:08 – Outro
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Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
UCC2 - https://twitter.com/UCC2_xyz
Website - https://ucc2.xyz
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product,

Uncommon Core 2.0 Transcript on Youtube

An Incomplete Guide to PBS - with Mike Neuder and Chris Hager

The Reboot