New FRP: Incentive-Compatible Encrypted Mempools

[nicolas3355]

No description provided.

[sarahalle]

Thanks for submitting this proposal! We are reviewing it and will get back to you with any questions or feedback

[jopasserat]

Hello and thanks for your submission! The overall topic and direction are both interesting and relevant to our interests. I have a few comments and questions about the proposal though:

• while i agree with the important element of calibrated costs when applying penalties, i didn't remember the traitor tracing construction you're citing as leading to unreliable detection: can you unpack what you mean here?
• what kind of timelock puzzles are you considering? we're not super comfortable with VDFs' guarantees in general. as far as i understand you intend to improve on a paper that relies on non-sequential DL-based puzzles? I'm not an expert on the topic but I have concerns on how this can be calibrated in the first place to even obtain some meaningful security.
• will your construction be designed so that it can be extended to handle a programmable privacy variant? we would love to make sure that the design could support FHE as underlying encryption for instance
• you need better positioning against more recent literature on the topic: recent works (BEAT-MEV, BEAST-MEV) have addressed the issues of efficiency and solved the privacy problem when that led to non-included transactions to be revealed upon decryption