+1
I’ve been following the issue with the single entity miner ignoring honest miner blocks. I think this is way more serious than the MEV issue.
I’ve performed experiments myself and can fully back up @Metastack_BMC’s observations.
No honest miner is able to mine profitably right now. The total miner burn per block in the past month has been way lower than it should be, which lowers stacking yield significantly. The dishonest miner has no incentive to increase BTC burn to match the current price of STX. And no other miners can join because they will lose money.
It was believed that the issue might be miners using old Stacks node versions which had bugs that caused it to ignore other miner blocks. And that the 2.1 update/fork was going to force an update and fix this. It has not.
And if I’m not mistaken it’s critical to get this fixed before the release of sBTC. If the miner burn rate is going to be used as an on-chain oracle for BTC STX price and ultimately determine the maximum sBTC supply, with the current situation, the oracle will be wildly inaccurate.
I would push for the proposal below to be fast tracked: Faster L2 WG: Intro Thread · stacks-network · Discussion #468 · GitHub