The second, also alluded to above, is MEV, which represents money captured from unsophisticated, everyday network users. When the network spends more on security, miners consolidate, MEV opportunities diminish and everyday users pay more in the form of inflation. By contrast, with lower spending under PoS, everyday users pay instead in the form of hidden transaction fees due to MEV. Over $1 billion worth of MEV is estimated to have been extracted on the Ethereum network alone over the past two to three years, to say nothing of the various side chains and layer 2s, and cross-domain MEV between and among them.
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Author: Lane Rettig
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