# Why Only 3 Builders Control All of Ethereum Page: https://stenobird.com/podcast/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755/why-only-3-builders-control-all-of-ethereum Text version: https://stenobird.com/podcast/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755/why-only-3-builders-control-all-of-ethereum.md Podcast: [Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies](https://stenobird.com/podcast/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755) Published: 2026-05-01T14:25:16+00:00 Episode link: https://podcasters.spotify.com/pod/show/epicenterpodcast/episodes/Why-Only-3-Builders-Control-All-of-Ethereum-e3ihdj8 Audio file: https://anchor.fm/s/10901e500/podcast/play/119108648/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-3-27%2F422953559-44100-2-ed4ebf8dcaa56.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755/episodes/why-only-3-builders-control-all-of-ethereum Duration seconds: 3547 ## Resource In this episode, host Friederike Ernst is joined by Kubi Mensah, CEO and co-founder of Gattaca, the company behind Titan Builder. Kubi sheds light on the highly competitive and often opaque world of Ethereum block building, explaining how Gattaca evolved from a centralized exchange proprietary trading firm to one of the three dominant builders responsible for constructing the vast majority of Ethereum blocks today . They dissect the true "journey of a transaction," revealing why over half of all Ethereum transaction value bypasses the public mempool in favor of private order flow auctions and MEV-protection services . Kubi explains the intricate mechanics of top-of-block bidding by high-frequency DeFi arbitrageurs, the necessity of extreme latency optimization, and the "flywheel effect" that makes block building a natural oligopoly . Finally, the discussion turns to the future of the Ethereum roadmap, unpacking how upcoming upgrades like ePBS (enshrined Proposer-Builder Separation) and FOCIL (Fork-Choice Enforced Inclusion Lists) aim to permanently alter the power dynamics between block builders, validators, and originators . Topics 04:15 Transitioning from TradFi Trading to Ethereum Block Building 09:30 Redefining the Builder: Relays and Order Flow Auctions 15:00 Unpacking the Mempool: Public vs. Private Transactions 21:45 The Anatomy of a Block & "Top-of-Block" Arbitrage 27:10 How Builders Pay Proposers to Win Auctions 35:20 The Oligopoly: Why Only 3 Builders Dominate Ethereum 42:15 Trust in the Dark Forest: Handling Searcher Bundles 49:00 The Convergence of Builders and Solvers 55:30 The Impact of ePBS, FOCIL, and Pre-confirmations Sponsors: Lido V3 introduces stVaults: a modular staking infrastructure that lets builders and institu… ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755/episodes/why-only-3-builders-control-all-of-ethereum/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/epicenter-learn-about-crypto-blockchain-ethereum-bitcoin-and-distributed-technologies-918755/why-only-3-builders-control-all-of-ethereum.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.