KR Documentation Update - README - Part 1 (flashbots#254)

* test.txt

* rm test.txt

* README updated

* Update Who can Run MEV-Boost on README.md

Co-authored-by: shana <[email protected]>

* Update intro of README.md

Co-authored-by: shana <[email protected]>

README.md

@@ -1,18 +1,31 @@
 ![mev-boost](https://user-images.githubusercontent.com/116939/179831878-dc6a0f76-94f4-46cc-bafd-18a3a4b58ea4.png)
 
-# mev-boost
+# 
 
 [![Goreport status](https://goreportcard.com/badge/github.com/flashbots/mev-boost)](https://goreportcard.com/report/github.com/flashbots/mev-boost)
 [![Test status](https://github.com/flashbots/mev-boost/workflows/Tests/badge.svg)](https://github.com/flashbots/mev-boost/actions?query=workflow%3A%22Tests%22)
 
-`mev-boost` allows validators in Ethereum proof-of-stake to request blocks from a network of builders.
+## What is MEV-Boost?
 
-This project is part of the Flashbots research towards proposer/builder separation for Maximal Extractable Value (MEV) mitigation. `mev-boost` can connect to relays that aggregate multiple builders. The builders prepare full blocks, optimizing for MEV extraction and fair distribution of the rewards. The Consensus Layer client of the validator proposes the most profitable block received from `mev-boost`.
+`mev-boost` is open source middleware run by validators to access a competitive block-building market. MEV-Boost was built by Flashbots as an implementation of [proposer-builder separation (PBS)](https://ethresear.ch/t/proposer-block-builder-separation-friendly-fee-market-designs/9725) for proof-of-stake (PoS) Ethereum.
+
+With MEV-Boost, validators can access blocks from a marketplace of builders. Builders produce blocks containing transaction orderflow and a fee for the block proposing validator. Separating the role of proposers from block builders promotes greater competition, decentralization, and censorship-resistance for Ethereum.
+
+## How does MEV_Boost work?
+
+
+PoS node operators must run three pieces of software: a validator client, consensus client, and an execution client. MEV-boost is a sidecar for the Consensus Client, a separate piece of open source software, which queries and outsources block-building to a network of builders. Block builders prepare full blocks, optimizing for MEV extraction and fair distribution of rewards. They then submit their blocks to relays. 
+
+Relays aggregate blocks from **multiple** builders in order to select the block with the highest fees. One instance of MEV-boost can be configured by a validator to connect to **multple** relays. The Consensus Layer client of a validator proposes the most profitable block received from MEV-boost to the Ethereum network for attestation and block inclusion.
 
----
 
 ![mev-boost service integration overview](https://raw.githubusercontent.com/flashbots/mev-boost/main/docs/mev-boost-integration-overview.png)
 
+## Who can run MEV-Boost?
+
+MEV-Boost is a piece of software that any PoS Ethereum node operator (including solo validators) can run as part of their Beacon Client software. It is compatible with any Ethereum consensus client. Support and installation instructions for each client can be found [here](#installing).
+
+
 ---
 
 See also:
@@ -23,7 +36,6 @@ See also:
 * [Wiki](https://github.com/flashbots/mev-boost/wiki)
 * [Troubleshooting guide](https://github.com/flashbots/mev-boost/wiki/Troubleshooting)
 
----
 
 # Table of Contents
 
@@ -41,9 +53,9 @@ See also:
 
 MEV is a centralizing force on Ethereum. Unattended, the competition for MEV opportunities leads to consensus security instability and permissioned communication infrastructure between traders and block producers. This erodes neutrality, transparency, decentralization, and permissionlessness.
 
-Flashbots is a research and development organization working on mitigating the negative externalities of MEV. Flashbots started as a builder specializing in MEV extraction in proof-of-work Ethereum to democratize access to MEV and make the most profitable blocks available to all miners. >90% of miners are outsourcing some of their block construction to Flashbots today.
+Proposer/block-builder separation (PBS) was initially proposed by Ethereum researchers as a response to the risk that MEV poses to decentralization of consensus networks. They have suggested that uncontrolled MEV extraction promotes economies of scale which are centralizing in nature, and complicate decentralized pooling.
 
-`mev-boost` is a new middleware in which validators can offer their blockspace to not just Flashbots but other builders as well. This opens up the market to more builders and creates competition between them, leading to more revenue and choice for validators, and better censorship-resistance for Ethereum. From our [early explorations in Ethereum proof-of-stake](https://writings.flashbots.net/research/mev-eth2/) we found that “MEV can increase validator rewards by 75.3%, or give an APR of 12.86% rather than a non-MEV APR of 7.35% from staking eth.”
+Flashbots is a research and development organization working on mitigating the negative externalities of MEV. Flashbots started as a builder specializing in MEV extraction in proof-of-work Ethereum to democratize access to MEV and make the most profitable blocks available to all miners. >90% of miners are outsourcing some of their block construction to Flashbots today.
 
 In the future, [proposer/builder separation](https://ethresear.ch/t/two-slot-proposer-builder-separation/10980) will be enshrined in the Ethereum protocol itself to further harden its trust model.