Everyone keeps arguing about blockchain: should exchanges be absolutely decentralized or optimized for extreme performance? @grvt_io has made trade-offs with a hybrid architecture. An off-chain C++ matching engine handles 600,000 TPS while physically shielding against MEV; on-chain zero-knowledge proofs handle settlement, with assets locked in smart contracts, and even if it crashes, mathematical guarantees still support withdrawals. But the off-chain matching remains a black box. Zero-knowledge proofs can only verify the settlement outcome; they can’t prove that no one jumped the queue when matching orders. In other words, settlement is trustless, but execution still requires trust. Therefore, when running high-concurrency short- to medium-term trading, you can leverage speed advantages; for large-amount arbitrage orders, you need the highest execution verifiability—this is where the gap remains. #grvt