What is Fair Sequencing Service (FSS) (Chainlink)?

The Fair Sequencing Service (FSS) is a mechanism developed by the Chainlink data oracle platform that allows decentralized finance (DeFi) systems to reduce transaction ordering problems and costs. FSS streamlines the use of smart contracts on Layer-1 blockchains by allowing the Chainlink oracle network to order transactions — by using several oracle nodes to carry out the process instead of one — to a specific smart contract made up of user transactions and oracle reports. Chainlink's FSS stands to potentially further decentralize mining and transaction ordering in blockchain networks.