Dayan: Front-running arbitrageurs bid tens of thousands of dollars in fees
Phil Dayan · a16z Podcast | Voting, Security, and Governance in Blockchains and Cryptonetworks · Feb 26, 2019 · at 35:17
Phil Dayan, smart contract researcher at Cornell Tech, explains how bot operators engage in gas bidding wars on Ethereum to front-run decentralized exchange transactions.
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“Subsidize these arbitrage transactions, which often cost thousands and thousands of dollars in fees. Like people are bidding multiple thousands, even tens of thousands in fees on these transactions.”
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