Flash Boys 2.0

by Ari Juels
Flash Boys 2.0
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Contributors (2)
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Created
Oct 05, 2019

Real-time transcript.

Intro

This session is a review of the Flash Boys 2.0 paper.
One of many projects taking place under IC3.

Asides

Time bandit attacks put Ethereum at risk.

$1.5B of DEX volume in July 2018; $56M to mount a 51% attack. Arbitrage opportunities are hard to know, but attack cost is low. Bandt can also go back in time and execute trades w/ knowledge of future prices.

Authors unintentionally created a bot community by posting about the opportunity. Arbitrage opportunities jumped by a factor of ~100 after the paper came out… ? Also made the community more efficient, by creating a token that lowers the price you pay for gas…

Comments
1
Samuel Klein: w/ Andrew Miller and others