European trading platform 21X and LayerZero announced that a private, permissioned implementation of Zero achieved 10,000 order matches per second during a technical trial lasting one month. Shared on November 4, the findings highlight a 45-fold performance increase compared to the Ethereum Virtual Machine layer-two baseline utilized for the test.
The trial focused on a fully onchain central limit order book, concentrating primarily on US equity tokens. This approach of matching orders onchain differs from simply settling transactions on a blockchain after an offchain engine handles the matching process. Because the setup used a private instance, the participants controlled network membership and visibility differently than they would on a public, permissionless network.
For crypto readers and market observers, permissioned environments appeal to institutions requiring strict market-access controls, surveillance, and operational resilience without exposing every transaction detail on a public ledger. However, a high-speed benchmark in a controlled pilot does not fully answer governance questions or guarantee identical performance under live production stress in regulated markets.