What Is the “Proposer-Builder Separation (PBS)” Model in PoS and How Does It Affect MEV?

PBS separates the role of proposing a block from the role of building the block's contents (ordering transactions). The block builder optimizes the block for MEV and submits it to the proposer, who then selects the most profitable block.

This separation aims to limit the proposer's ability to extract MEV directly and makes the MEV market more transparent and competitive, potentially reducing malicious front-running.