Balancing Openness & Safety in DeFi: Mitigating Front Running on #bancor
▻https://hackernoon.com/balancing-openness-safety-in-defi-mitigating-front-running-on-bancor-c2b
Open financial networks on the #ethereum #blockchain must deal with the risk of exposing users to an array of abusive practices. While decentralized finance or “DeFi” instruments offer huge advantages over legacy financial systems, namely by eliminating rent-seeking intermediaries and bringing new levels of transparency to token markets, network designers should seek to strike a balance between openness and user safety. After all, if DeFi solutions become rife with abuse and are only safe for the most advanced users, they will undermine the very openness that DeFi projects seek to promote.One such attempt to exploit the design of DeFi architectures is the abusive practice known as front running, which occurs when malicious actors steal money from users by stepping in front of pending (...)