Define the Term “Priority Fee” in the Context of Transaction Ordering

A priority fee, or "tip," is an extra amount of cryptocurrency voluntarily included by a user in their transaction to incentivize the block producer (miner or validator) to prioritize its inclusion in the next block. It is a direct payment to the block producer, separate from the base network fee.

Front-running bots use a high priority fee to ensure their arbitrage transaction is ordered ahead of the target transaction in the same block.