# Understanding Building In A Continuous Time Setting

**URL:** https://collective.flashbots.net/t/understanding-building-in-a-continuous-time-setting/2048
**Category:** Research
**Tags:** pbs
**Created:** [July 24, 2023, 8:42pm UTC](https://collective.flashbots.net/t/understanding-building-in-a-continuous-time-setting/2048 "2023-07-24T20:42:00Z")
**Posts on this page:** 1
**Page:** 1

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### Author: ![Quintus](https://collective.flashbots.net/letter_avatar_proxy/v4/letter/q/49beb7/32.png) [@Quintus](https://collective.flashbots.net/u/Quintus)
#### Post date: [July 24, 2023, 8:42pm UTC](https://collective.flashbots.net/t/understanding-building-in-a-continuous-time-setting/2048/1 "2023-07-24T20:42:01Z")

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## Overview

Some domains/chains, [like Arbitrum](https://research.arbitrum.io/t/time-boost-a-new-transaction-ordering-policy-proposal/8173), have expressed a preference for continuous-time sequencing. This is easy to implement with something like a shared sequencers. There is a large design space for interfaces with searcher/builder markets in such settings, which has remained largely unexplored. **Any exploration of this design space would be valuable**

## Guiding Examples and Questions.

- The most extreme case is first-come-first-serve continuous-time ordering implemented with something like [Themis](https://eprint.iacr.org/2021/1465)
- Arbitrum’s [Timeboost design](https://research.arbitrum.io/t/time-boost-a-new-transaction-ordering-policy-proposal/8173) represents a hybrid design between auctions and time-based ordering. Additional research on the design would be valuable, especially in understanding what kinds of games searchers will play to access opportunities.
  - Another question is if more complex, but efficient designs are tenable (e.g. dynamic pricing curves, using more than simply a function of bid and time to order)

- A continuous-time sequencer can still accept objects which resemble bundles that are the combination of multiple users’ interaction (e.g. limit orders being cleared by a market maker). What are important differences between such settings where users can choose to submit to a coordination device that waits and aggregates user information or submit directly to a sequencer and block-based settings? Coming up with a good concrete example is part of the exercise

## Relevant links

- [Themis: Fast, Strong Order-Fairness in Byzantine Consensus](https://eprint.iacr.org/2021/1465)
- [[2306.02179] Buying Time: Latency Racing vs. Bidding in Transaction Ordering](https://arxiv.org/abs/2306.02179)
- [Transaction ordering policy - Uncategorized - Arbitrum Research](https://research.arbitrum.io/t/transaction-ordering-policy/127)
- [Tarun’s talk on fairness](https://www.youtube.com/live/WYH7n4M016A?feature=share&t=14626)