> Details

Zhang, Haoqian [Author]; Merino, Louis-Henri [Author]; Qu, Ziyan [Author]; Bastankhah, Mahsa [Author]; Estrada-Galiñanes, Vero [Author]; Ford, Bryan [Author] ; Haoqian Zhang and Louis-Henri Merino and Ziyan Qu and Mahsa Bastankhah and Vero Estrada-Galiñanes and Bryan Ford [Contributor]

F3B: A Low-Overhead Blockchain Architecture with Per-Transaction Front-Running Protection

Reference
management

Bookmarks

Remove from
bookmarks

Share this on Whatsapp

Close

Bookmarks



You can manage bookmarks using lists, please log in to your user account for this.
  • Media type: Electronic Conference Proceeding; Text; E-Article
  • Title: F3B: A Low-Overhead Blockchain Architecture with Per-Transaction Front-Running Protection
  • Contributor: Zhang, Haoqian [Author]; Merino, Louis-Henri [Author]; Qu, Ziyan [Author]; Bastankhah, Mahsa [Author]; Estrada-Galiñanes, Vero [Author]; Ford, Bryan [Author]
  • Published: Schloss Dagstuhl – Leibniz-Zentrum für Informatik, 2023
  • Language: English
  • DOI: https://doi.org/10.4230/LIPIcs.AFT.2023.3
  • Keywords: DeFi ; Blockchain ; Front-running Mitigation
  • Origination:
  • Footnote: Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
  • Description: Front-running attacks, which benefit from advanced knowledge of pending transactions, have proliferated in the blockchain space since the emergence of decentralized finance. Front-running causes devastating losses to honest participants and continues to endanger the fairness of the ecosystem. We present Flash Freezing Flash Boys (F3B), a blockchain architecture that addresses front-running attacks by using threshold cryptography. In F3B, a user generates a symmetric key to encrypt their transaction, and once the underlying consensus layer has finalized the transaction, a decentralized secret-management committee reveals this key. F3B mitigates front-running attacks because, before the consensus group finalizes it, an adversary can no longer read the content of a transaction, thus preventing the adversary from benefiting from advanced knowledge of pending transactions. Unlike other mitigation systems, F3B properly ensures that all unfinalized transactions, even with significant delays, remain private by adopting per-transaction protection. Furthermore, F3B addresses front-running at the execution layer; thus, our solution is agnostic to the underlying consensus algorithm and compatible with existing smart contracts. We evaluated F3B on Ethereum with a modified execution layer and found only a negligible (0.026%) increase in transaction latency, specifically due to running threshold decryption with a 128-member secret-management committee after a transaction is finalized; this indicates that F3B is both practical and low-cost.
  • Access State: Open Access