Eden Network is an optional, non-consensus-destructive protocol for sorting Ethereum block transactions, which ensures that the transaction order of Network participants cannot be arbitrarily reordered. The system provides a transparent and fair set of rules for ranking transactions within each block. The accompanying token reward system realizes MEV (Miner Extractable Value) profits for block producers to maximize network security.
After the implementation of IP-1559, the transaction fees that used to be paid to ethereum block producers were burned, and miners' incomes fell and began to demand MEV opportunities, Eden Network Create incentives for miners to serve their users and distribute MEVs fairly.
Eden Network Leases the priority block space in the Eden block to the slot tenant. Tenants mortgage EDEN for a slot auction, and in return, the winning project or tenant can access EDEN Network to process their transactions and be protected by MEV's false start.
The mine pools currently using Eden Network include F2Pool, SparkPool, Nanopool and 2Miners, It accounts for more than 50% of ethereum's total network computing power, which means that more Eden blocks are now being produced on Ethereum than non-Eden blocks.
Eden Network has announced that it has raised $17.4 million in a seed round. The new round was led by Multicoin Capital through the EDEN token sale, with participation from Jump Capital, Alameda Research, Wintermute, GSR and DeFiance Capital. Individual investors included Andre Cronje, founder of Yearn Finance, and Joshua Lim, head of derivatives at Genesis Capital. The new funding will help Eden Network strengthen its infrastructure through RESEARCH and development and further increase its adoption rate.