Coincidentally, there is a paper and talk about this called:
Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges
https://arxiv.org/abs/1904.05234v1 https://www.cbspringconference.org/
Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges
https://arxiv.org/abs/1904.05234v1 https://www.cbspringconference.org/
That paper is about a side-effect based on the design of "Decentralized Exchanges" on Ethereum and similar systems. That's why people should always dive in the details of those blockchain solutions; not only you have implementation issues, but even design issues where the "solution" falls apart when game theory is accounted for all actors and interactions with the network.
Unfortunately, the complexity of such "decentralized solutions" makes it easy to miss a lot of issues. Even with audits that cost thousands of dollars per case, you still have several cases where serious vulnerabilities go unnoticed.
https://slideslive.com/38911605/smart-contract-security-ince...
Probably my favourite talk from that conference.