Abstract: We will explore various exploitation vectors faced by users of decentralized systems, including but not limited to smart contracts. We will discuss how bidding for high fees fueled by arbitrageurs and other profiteers poses a systemic risk to consensus-layer security, and a challenge for software developers trying to defend systems for attack. We will explore the conflict between permissionless systems and security, and discuss how economic security can break down. You are encouraged to bring our own concerns and war stories for the brave new world of decentralized systems!
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