SKALE Labs Launches BITE Protocol To Protect Against Blockchain Industry's Nearly $2 Billion MEV Vulnerability

(MENAFN- Crypto Breaking) BITE is set to become the first protocol to eliminate MEV at the consensus level, ending front-running, sandwich attacks, and other transaction exploits San Francisco – May 8, 2025 – SKALE Labs, the team behind the gas-free invisible blockchain network SKALE, today announced the launch of BITE Protocol, the industry's first consensus-level solution designed to eliminate Maximal Extractable Value (MEV). With over $1.8 billion lost to MEV extraction since 2020, BITE Protocol seeks to bring blockchain transactions in line with that of traditional finance transactions, eliminating front-running tactics that have plagued the industry as more traditional institutions enter the space. BITE, short for 'Blockchain Integrated Threshold Encryption', prevents any party, including validators, from accessing transaction contents before a block is finalized. While previous attempts at eliminating MEV have only addressed issues at a surface level, BITE's new cryptographic protocol integrates threshold encryption directly into the consensus layer, creating a fundamentally level playing field for all blockchain participants. By encrypting transactions before they enter the mempool and only decrypting them after block finalization, BITE delivers true transaction privacy and fairness. The protocol is poised to transform the blockchain landscape from one where privileged actors can exploit ordinary users to one where everyone operates with the same information at the same time, bringing blockchain closer to the fairness expected in traditional financial markets while maintaining its decentralized nature. The protocol's impact extends across decentralized exchanges, NFT marketplaces, lending protocols, on-chain games, prediction markets, and real-world asset (RWA) tokenization platforms, where transaction fairness and privacy are essential for bringing traditional assets onto blockchain networks. For more information, please visit: About SKALE Labs SKALE, the gas-free invisible Layer1 blockchain network, is“built different” to scale gaming, AI, social, and high-performance dApps to the masses. SKALE Chains are gas-free, fast, and EVM-compatible, making them ideal for a wide range of decentralized applications. With a commitment to driving the mass adoption of Web3 technologies, SKALE empowers developers and businesses to build scalable, efficient, and user-centric blockchain applications. Harmonizing speed, security, and decentralization, SKALE Labs was born in Cali in 2017 by Jack O'Holleran and Stan Kladko, PhD. As of 2025, the network serves over 55 million unique active wallets and has saved users over $11 billion in gas fees.

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