Front-Running Problems with Bancor (BNT)
Amazing article posted by Ivan Bogatyy. Very indepth article how others can predict Bancor's buys and front run them (buy in before they do) to get better profits. This guy coded a Front-running Bancor script in 150 lines of Python with Ethereum API. The problem is that Ethereum/Bitcoin take time to confirm transactions, if Bancor were run on idk say STEEM or Bitshares this wouldn't really be an issue!
Tl;dr basically because Bancor runs on the Ethereum blockchain others are able to see their spent transactions on the Ethereum blockchain and using an exchange, put in their buy order first before it confirms on the Ethereum blockchain.
Check out his indepth article @ https://hackernoon.com/front-running-bancor-in-150-lines-of-python-with-ethereum-api-d5e2bfd0d798
img credz: pixabay.com
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