top of page
  • Writer's picturePEG

A Fresh Look at Ethereum's New Outsourcing Model: PEPC Explained

Blockchain technology, especially Ethereum, is undergoing rapid transformations. One hot topic is how we can streamline the process of adding new transactions to the blockchain, making it faster and more efficient. Enter PEPC - a dynamic new approach to how this can be done.



The Shift in Block Creation

Traditionally, a specific group, known as proposers or validators, were the key players in adding new blocks to Ethereum. But the blockchain world is evolving. There's talk about letting external teams, called builders, step into this role too.


Why is PEPC Needed?

Imagine a bustling kitchen. The chef, akin to our proposer, has many dishes to prepare. Instead of making every dish himself, he needs a system to delegate tasks. PEPC is like a digital platform where the chef (proposer) can seamlessly assign tasks to sous chefs (builders), ensuring every dish is prepared to perfection.

In the blockchain kitchen, tasks might include:

- Whipping up a full block

- Organizing the sequence of transactions

- Checking the validity of data

- And more

PEPC doesn’t dictate how these tasks are delegated; it just ensures that once a task is assigned, it's completed as promised.


Promises, Promises! How Are They Kept?

Imagine booking a cab. There's a mutual understanding: you'll pay, and the cab will take you to your destination. PEPC operates similarly, allowing proposers to set conditions for builders. But how do we ensure both parties keep their promises?

There are two methods:


1. Hope for the Best: This method trusts that everyone will keep their word, but if someone doesn't, they face penalties.

2. Strict Gatekeeping: Here, if someone doesn't keep their promise, their work is outright rejected. It's a zero-tolerance approach.


The Challenge of Data Availability

In any transaction, data plays a crucial role. If a proposer promises to pay a builder, there should be clear data proof of service completion by the builder. However, what if builders pretend to work but don't deliver? This tricky scenario needs clever solutions, and the community is actively brainstorming.


PEPC's Potential in Action

Imagine PEPC as a multi-utility tool in our chef's kitchen:

- The chef can auction off parts of the meal prep to various sous chefs.

- He can provide a list of ingredients for a specific dish.

- He can even reserve future tasks for specific sous chefs.

The beauty of PEPC lies in its flexibility.


Blending PEPC with Other Tools

There are other tools and systems in the blockchain kitchen, like Eigenlayer and SUAVE. Each has its unique function. While Eigenlayer might let our chef jot down promises on a whiteboard, SUAVE could help in prioritizing which dish to prepare first based on guest preferences. PEPC can enhance these tools, making the entire cooking process smoother.


Navigating the Challenges Ahead

While PEPC is a revolutionary concept, it's not without its hiccups:

- How do we ensure it integrates seamlessly with the existing system?

- Is there such a thing as too much flexibility?

- Can we guarantee the safety and security of every transaction?

It's an exciting time for Ethereum and its community as they explore these questions.


In a nutshell, PEPC is reinventing the kitchen of Ethereum, bringing in innovative ways to delegate tasks and promising a more efficient future for the blockchain world.

41 views0 comments

Comments


bottom of page