Privacy All the Way Down: Tackling MEV at Different Layers via. Cryptography
summary
Multiple teams claim concrete defenses: a Tendermint-integrated threshold decryption pipeline decrypts and executes transactions within the same block to avoid one-block delays; a middleware uses trusted hardware + ORAM to lock order before publish and hide enclave access patterns; a Cosmos-based chain runs SGX validators so secret contracts live since Sept 2020 and a front‑running‑resistant AMM runs since Feb 2021; others implement Ethereum smart‑contract wrappers that accept encrypted txs, decrypt off‑chain, then forward—composability and collusion remain unresolved.
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chapters (10)
- 0:00Introduction
- 1:53Conveyor: DEX privacy middleware
- 6:10Secret Network: L1 smart contract privacy
- 8:23Osmosis: Fair ordering with threshold decryption
- 10:52MEV prevention: Encryption vs random ordering
- 12:18Shutter: Application-layer threshold encryption
- 13:42Layer one vs application trade-offs
- 20:47Security assumptions and failures
- 29:38Failure handling and recovery
- 34:11Closing remarks and Q&A
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