Skale launches BITE protocol to eliminate malicious MEV attacks

Layer1 blockchain Skale has launched a new consensus layer solution called the BITE protocol, which aims to eliminate malicious MEV attacks. The protocol uses threshold encryption technology to encrypt transactions before entering the memory pool and decrypt them only after the block is confirmed, thus blocking the ability of validators to obtain transaction information in advance for rush or sandwich attacks. The innovation of the BITE protocol is to introduce the transaction ordering mechanism of traditional finance into the blockchain. By building encryption protection in the consensus layer, validators can avoid taking advantage of information asymmetry to profit. Skale CEO said that this is a more thorough solution than existing solutions such as private memory pools.