Miner Extractable Value

On proof of work (PoW) blockchains such as Ethereum (ETH) Miner extractable value refers to the maximum amount of profit extracted from a block above and beyond the standard block rewards. In PoW, miners dictate transactions’ ordering and decide which transactions to include and exclude. In some situations, such as DeFi, sophisticated miners with an expert understanding of MEV can analyze the mempool and find highly profitable opportunities, including riskless arbitrage and frontrunning opportunities.