SoK: Privacy-Preserving Order Matching
In briefA systematic review of privacy-preserving order matching across 22 protocol families
SummaryThis paper systematizes privacy-preserving order matching, covering 22 protocol families across financial markets and blockchain-based exchanges. It divides the order lifecycle into four phases (order representation and submission, discovery and collection, matching, and settlement) and characterizes each by protected and exposed information, access roles, privacy mechanisms, and trust assumptions. The authors find that privacy is not a single protocol-level property, since protecting some attributes or phases may still leak information elsewhere in the lifecycle. They also identify recurring trade-offs among privacy, functionality, trust, and verifiability.