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Private Transactions: Because Your Grandma’s Ethereum Trades Are Now Being Used as Bait by High-Frequency Traders to Make You Poor

Crypto NewsEthereumHack 2 Linda Williams August 22, 2024

An illustration of two Ethereum traders, one dressed as a fisherman casting his line into dark waters while another stands at the edge looking worried. The water is filled with sharks representing frontrunners and other sea creatures symbolizing complex transactions. A few private order flow boats are seen sailing away from the chaos in the distance. In the foreground, gas prices rise like waves crashing against a shore marked "Public Queue". At nightfall, city lights illuminate blockbuilders' headquarters as they cast their lines into dark pools below.

Well, isn’t it just peachy! The land of crypto has now become so convoluted even its own users don’t want anyone else in. They’re opting for private transactions because they can’t trust the public network not to be front-run by those pesky bots trying to make a quick buck off their backsides.

Source: cointelegraph

Private transactions now dominate Ethereum order flow: Report
https://cointelegraph.com/news/private-transactions-dominate-ethereum-order-flow-report
Private transactions now dominate Ethereum’s order flow as users seek to protect trades from frontrunners, according to an Aug. 20 report from Blocknative.  While private order flow still only comprises approximately 30% of Ethereum transactions, it consumes more than half of all gas used on the network, Blocknative said. This shift creates “new centralization vectors as private transaction order flow is accessible only to permissioned network participants,” according to the report. Private […]

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Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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