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There has been a lot of confusion about TimeBoost, especially what it actually does. Some of the following are my personal takeaways about it and some are facts, that you may find interesting:
1. What?: Arbitrum transaction ordering policy before TimeBoost was First-Come First-Serve (FCFS). With TimeBoost it is almost the same: "TimeBoosted" transactions form FCFS order immediately, which gets merged with regular transactions that also form FCFS order with 200ms delay. Importantly, TimeBoost does NOT give right to propose blocks and it does NOT give sequencing rights.
2. Why?: TimeBoost has been primarily designed to shift the investment of arbitrage searchers in latency reduction and infrastructure to chain income, since the former is a lost value to (all types of) users of the chain. Second goal was to reduce reverted transactions due to probabilistic backruns. Third goal was to be as close as possible to FCFS ordering policy. TimeBoost has NOT been designed to maximize the revenue, especially a short term one.
3. How does it perform?: The primary goal is partially achieved, how large is this part is a) hard to calculate, b) needs to be tested over time. The second goal is not yet achieved, but I think it will get better. The third goal is clearly achieved.
Overall, I find it an interesting alternative design for transaction ordering to study, from a research perspective, and now with a real life data as well. The auction part of TimeBoost is quite related to execution tickets' idea proposed by Ethereum Foundation researchers.
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