Defeating front-runners with Submarine Sends by Lorenz Breidenbach & Tyler Kell (Devcon4)

Wed, Oct 2, 2019, 12:00 AM

Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on IPFS and more. https://archive.devcon.org/archive/watch/4/defeating-front-runners-with-submarine-sends Front-running is a fundamental problem in blockchain-based markets in which miners reorder, censor, and/or insert their own (or the highest gas bidder's) transactions to directly profit from markets running on blockchain economic mechanisms. Submarine Sends (first introduced here: http://hackingdistributed.com/2017/08/28/submarine-sends/) are a powerful general-purpose mechanism to prevent front-running on Ethereum by hiding the very existence of a transaction until it is no longer front-runnable. Unfortunately, so far no practical (in terms of gas) Submarine Send constructions were known. In this talk, I will introduce: a freshly discovered, practical Submarine Send construction that works on the Ethereum mainnet today.LibSubmarine, an open source project implementing it. Speaker(s): Lorenz Breidenbach, Tyler Kell Skill level: Intermediate Track: Security Keywords: front-running, miners, mining, open-source Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum Learn more about devcon: https://www.devcon.org/ Learn more about ethereum: https://ethereum.org/ Devcon is the Ethereum conference for developers, researchers, thinkers, and makers. Devcon 4 was held in Prague, Czech Republic on Oct 30 - Nov 2, 2018. Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/