Encrypted mempools can seem like an appealing solution to fixing the market structure on blockchains. But, even a perfect cryptographic solution still leaves a lot of gaps. We’re going to need new economic mechanisms in addition to cryptography to totally address the problem.

Excited to share our new paper, "Accountable Liveness", w/ @AndrewLewisPye @Tim_Roughgarden @luca_zanolini. We explore when and how adversarial nodes can be punished if they stall transaction confirmation in blockchains.