(
Maximal
Extractable
Value,
Miner
Extractable
Value) The additional value in crypto that a miner can derive by including, excluding or rearranging the transactions in a block. The "miner" in MEV was coined when both Bitcoin and Ethereum were using proof-of-work consensus methods. After Ethereum switched to proof-of-stake, "miner" became "maximal" in MEV (see
Ethereum 2.0).
Other MEV Approaches
Although MEV may refer to efficient transaction selection in general, the term also refers to employing multiple trades to increase profits. For example, there are third-party bots designed to find the best combination of transactions. Called "searchers," the bots interact directly with miners or Ethereum validators for a fee. See
DeX arbitrage,
sandwich trading and
crypto frontrunning.