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Defeating front-runners with Submarine Sends

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Defeating front-runners with Submarine Sends

Duration: 00:06:09

Speaker: Lorenz Breidenbach, Tyler Kell

Type: Talk

Expertise: Intermediate

Event: Devcon 4

Date: Oct 2018

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.

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About the speakers

LB

Lorenz Breidenbach

SNF BRIDGE Fellow

Lorenz Breidenbach is an SNF BRIDGE fellow in the System Security Group at ETH Zürich working to transfer technology from academia to industry. His current research is on blockchain security with a particular focus on trading and exchanges. Previously, he was at Cornell Tech and IC3 in New York, where he co-created thehydra.io and gastoken.io. Lorenz holds a Master’s degree in Computer Science from ETH Zürich and spent time in industry at Google and Open Systems.

TK

Tyler Kell

Research Engineer

Tyler Kell is a research engineer working with Ari Juels's group at Cornell Tech in New York City. In a previous life, Tyler was a computer security consultant and penetration tester, and he enjoys a history of challenging security assumptions. Relevant research interests include smart contract development, security as it relates to cryptocurrencies and distributed ledger technologies, and information security as a broader topic overall.

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