Blocknative CEO and co-founder Matt Cutler says that over the past six months, private orders — transactions which do not appear in the public mempool but then do appear on-chain — grew from about 2% to 15% of all transactions on the Ethereum network.

He expects about half of all transactions to be private in a year or so. Designed as a “mechanism of protection,” he explains, the innovation has spawned some unintended consequences.

On the 0xResearch podcast (Spotify/Apple), Cutler explains the reasoning for private transactions: “You’re trying to avoid some of these concerns about adverse settlement and your transaction being part of an MEV attack.” 

MEV, or maximum…

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