Co-authored with Alex Sarch and Natasha Vasan. Originally published by The FinReg Blog, Duke University (6 June 2023).
Markets built on public, permissionless blockchains like Ethereum are radically transparent. While pending transactions in traditional finance are considered private information, viewable only by brokers or corporate insiders, transactions submitted to Ethereum’s public mempool—where they wait to be included on the blockchain—are publicly known.