# 125 - Ethereum's Hidden Power Structures | Matt Cutler

*Author: Ryan Sean Adams, David Hoffman*
*Published: Jun 25, 2022*
*Source: https://www.bankless.com/de/125-matt-cutler*

---

As Ethereum approaches the merge, these power structures are going to change. What will this post-merge future look like? Will users get paid to use Ethereum?

Matt uses first principles to help illustrate the complexities of everything discussed in this insightful episode. By the end of it, you’ll have a better understanding of the purpose of blockbuilders, the new post-merge roles, all things MEV, and so much more.

---

### TIMESTAMPS
0:00 Intro

6:27 The Reason for the Merge 

10:07 The Values PoS Preserves 

13:45 Blockbuilding Explained

16:35 Mining Pools & Incentive Categories

30:25 Why Decentralizing Power Matters

33:40 The Future State of Ethereum

39:21 The Post-Merge World Roles Explained

45:25 MEV Searchers vs. Blockbuilders vs. Stakers/Validators

55:45 PBS & MEV Boost & Who Are the Blockbuilders 

1:03:50 Economic Rewards for Blockbuilders

1:17:19 Ethereum Will Eventually Pay Users? 

1:19:40 Can Ethereum Stay Decentralized?

1:26:22 ETH The Asset

1:31:39 Where MEV Exists

1:35:16 How Blocknative Fits into All of This

1:37:30 Closing & Disclaimers

---

### RESOURCES
Matt Cutler

https://twitter.com/mcutler 

Blocknative

https://twitter.com/blocknative 

End Game with Vitalik

https://youtu.be/b1m_PTVxD-s

Ultra Scalable Ethereum

https://newsletter.banklesshq.com/p/ultra-scalable-ethereum

The Guide to the Ethereum Roadmap with Jon

https://youtu.be/xuLyZaty9iI