3 ms·
> any transactions that are settling on chain need to be 100% deterministic. If "100% deterministic" means absence of shared mutable state, then this approach
by klntsky 2y ago
> any transactions that are settling on chain need to be 100% deterministic.
If "100% deterministic" means absence of shared mutable state, then this approach will surely lead nowhere in the DeFi context, because even a proper order book with immediate execution AND partial order filling is impossible to build.
If partial order filling is allowed, then either
- order execution is not permissionless (no "De" in "DeFi") - which basically means the batcher can exploit users (and there have been claims that one of the Cardano DEXes does exactly that)
- or orders are censorable (one can delay the market pressure indefinitely by filling a large order for $0.001 repeatedly)
If partial order filling is not allowed, that would give an insanely inefficient price discovery (basically an OTC situation).
I recommend you to take a look at the current state of DeFi on Cardano vs. account-based chains