What Institutions Should Know About Blockspace
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[A concise look at what institutions get wrong about blockspace and MEV and why on-chain markets are an evolution of traditional finance.]
Every blockchain orders transactions; what matters is how.
In this essay, Gattaca CEO Kubi Mensah breaks down blockspace as a new kind of commodity and tackles the most common misconceptions institutions and regulators hold about MEV.
Drawing on market microstructure research, he shows how the latency races of traditional finance, where firms spend fortunes to win by microseconds, play out in blockspace markets, and why on-chain design can do better.
The result is a clear-eyed case that blockchain market structure isn't a flaw to be fixed, but an evolution beyond legacy markets.