Radius shared sequencer: encrypted mempool and atomic composability
Thread721 words
Explains Radius, a decentralized shared sequencer that uses Practical Verifiable Delay Encryption for an MEV-resistant encrypted mempool and offers atomic composability across rollups. Expects it to serve smaller app-specific rollups.
Key claims
PVDE time-lock puzzles hide tx contents until ordering, with zk proofs in about 5 seconds
Shared sequencing makes rollups atomically composable
Big general-purpose L2s will likely build their own sequencing
0/ decentralized rollup sequencers are a key step towards mature L2 infrastructure 🧱
@radius_xyz is building a decentralized, shared sequencer network that is fully censorship & MEV-resistant and comes with interoperability benefits too🚀
a 🧵 on why @radius_xyz matters (0/28)
1/ If you’re not familiar yet with the risks that centralized rollup sequencers pose, I recommend to have a look here first 👇
x.com/expctchaos/status/1682359858119741443?s=46
2/ but let’s dive into @radius_xyz and start with a definition
so basically, @radius_xyz is a trustless shared sequencing layer, aiming to eradicate detrimental #MEV and censorship risks, whilst simultaneously generating economic value for rollups
3/ since rollup sequencers define the order of #L2 transactions, one of the main risks of centralized sequencers arises from #MEV exploitation
@radius_xyz will change the game 🚀
4/ but how? 🤔
it employs a mechanism called Practical Verifiable Delay Encryption (PVDE), enabling an encrypted mempool
5/ I will break this down a bit more in this thread on a high level, but if you want to get into the weeds, read more about PVDE here 👇
ethresear.ch/t/mev-resistant-zk-rollups-with-practical-vde-pvde/12677
6/ what is PVDE?
PVDE is a zero knowledge (ZK) cryptography scheme and instrumental in ensuring trustless sequencing of transactions. It's crucial in keeping centralized sequencers from engaging in malicous actions such as frontrunning, sandwiching or censoring user transactions
7/ this kind of #MEV-resistance is achieved as the contents of the transaction are only revealed after the transaction order is determined by the sequencer
8/ more specifically, @radius_xyz encrypts the transactions temporarily based on a time-lock puzzle, which adds a time delay for the operator to find the symmetric key used to decrypt the transaction data
9/ this method generates zk proofs within 5 seconds, which are needed to prove that solving the time-lock puzzles will lead to the correct decryption of valid transactions
10/ ok, so radius provides an #MEV-resistant sequencer layer, that’s cool? But didn’t I say something about interoperability as well? 🤔
11/ you’re right, I did! And this is especially exciting too as interoperability between rollups is generally recognized as a complex challenge
12/ but how does @Radius_xyz help here? 🧐
13/ basically, the @radius_xyz sequencer network acts as a pivotal communication tool, synchronizing rollup data, and thus improving interoperability
14/ this makes sense if we think about why we call it a « shared » sequencer. If multiple rollups send their transactions to @radius_xyz and subsequently ordered within one cross-rollup block, rollups using the same sequencer become atomically composable 🤯
15/ and because the operator that orders the transactions will be chosen randomly out of an entire set, rollups using @radius_xyz will get « Decentralization as a Service », completely abstracting the complexity of spinning up the hardware themselves
16/ pretty sick, right? 🤯
and @radius_xyz is not the only team out there working on shared sequencing layers. @EspressoSys and @AstriaOrg are both working on similar solutions, shich I sill explore early next week 👀
17/ alternatively, #rollups can leverage @eigencloud’s restaking network to perform this transaction ordering function. An example of this is @altlayer 👇
x.com/expctchaos/status/1680997392370536448?s=46
18/ or, #rollups can choose to become « based » and rely on the L1 that they’re based on for sequencing 👇
x.com/expctchaos/status/1682855989106601989?s=46
19/ but to conclude this thread, let’s have a quick look at the transaction flow on a rollup using @radius_xyz 👇
20/
1️⃣ Users dispatch their transactions to the sequencing layer
21/
2️⃣ The sequencing layer arranges the transactions and constructs a block
22/
3️⃣ The composed block is then submitted to the #rollup
23/
4️⃣ The #rollup proceeds to execute the transactions following the order provided by the sequencing layer
24/
5️⃣ Finally, the rollup submits the executed transactions to the settlement layer or data availability (DA) for finalization
25/ so will we see shared sequencers everywhere in the future? 🔮
26/ probably not, as big general-purpose L2s will likely build out own decentralization mechanisms
27/ but as the modular design space matures and we see more (app-specific) rollups emerge, shared sequencer networks like @radius_xyz will be well positioned to provide «Decentralization-as-a-Service» to these smaller rollups, tackling both MEV & interop challenges in the process
28/ follow me (@expctchaos) for more content like this 🫶
tagging a few chads to follow 🫡👇
@0xchadnik
@splinter0n
@Only1temmy
@Louround_
@thesaint_
@0xSalazar
@poopmandefi
@ShivanshuMadan
@0xShivani
@hmalviya9
@wacy_time1
@ThorHartvigsen
@poopmandefi
@0xDinoEggs
@jinglingcookies
@DOLAK1NG
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What came next · since 23 Jul 2023
Since then
Zero has written 5 more pieces on Radius since this one.