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What Is ‘Miner Extractable Value’ (MEV) in Relation to Transaction Ordering?

MEV is the profit that validators (or miners in PoW) can extract by strategically ordering, censoring, or inserting transactions within a block. This includes front-running decentralized exchange trades or liquidating positions.

It is a controversial practice that can negatively impact users by causing higher slippage and is a major area of research and mitigation efforts.

What Is Maximal Extractable Value (MEV) and Its Relation to Front-Running?
What Is Maximum Extractable Value (MEV) and How Is It Related to Front-Running in Crypto?
How Does Maximal Extractable Value (MEV) Relate to Front-Running in Decentralized Finance?
How Does the Concept of Miner Extractable Value (MEV) Relate to Front-Running in Decentralized Finance (DeFi)?