François Garillot

In 2025, someone arguing you need FHE operating on global shared state to do good private DeFi is probably selling you something. arxiv.org/abs/2103.01193 academic.oup.com/qje/article...

The same discretization that hides individual trades also yields fairer pricing and eliminates latency and information-asymmetry rents ... an insight published 5 years earlier than Angeris et al. by authors less than enthusiastic about blockchains.

Redesigning the CFMM to batch is challenging but allows both privacy via ZK-proofs _and_ provides better market design: by removing continuous shared state, you make privacy and efficiency coincide.

One thing to recall from @hdevalence.bsky.social 's work: @lmao.bsky.social, @pinged.bsky.social & @alexhevans.bsky.social showed that just encrypting a continuously updated CFMM (e.g. via FHE) fails to provide real privacy, since the very structure of a live, convex invariant leaks information.

@sashamtl.bsky.social‬ ‪and @gaelvaroquaux.bsky.social‬ presenting arxiV:2409.14160 at ACM Facct 2025

At ACM #Facct2025, learning that LLMs face diminishing returns & comparatively worse task-specific performance when fixating on a larger scale. arxiv.org/abs/2409.14160 (paper by ‪@sashamtl.bsky.social‬
‪@gaelvaroquaux.bsky.social‬ & ‪@meredithmeredith.bsky.social‬)

I aimed to convey my enthusiasm for this progress from a practitioner's perspective ... and suggested a few additional directions worth exploring. You can find the recording and slides here: www.garillot.net/talks/2025-...

But in 2025, there's so much more: thanks to the hard work of @alberto_sonnino, @akihidis, Andrey Chursin, Arun Koshy, Mingwei Tian, and others, the Mysticeti implementation in the Sui repo is now modular, structured, and user-friendly, perfect for various projects.

I spoke at @protocol_berg on Modern Multi-Proposer Consensus. Consensus researchers know that algorithms like Mysticeti and Cordial Miners now elegantly blend HashGraph's virtual voting and @brynosaurus's Threshold Logical Clocks on a DAG. High throughput, low latency, the dream.

www.garillot.net/posts/2025/...

There's a clever yet obscure workaround used in Plonky3 (and other places) that allows you to use this method while preserving your spans, thanks to the magic of a drop-in "maybe-parallel" facade.

Find all the details (and a link to the code) in the note:

A potential issue with this method, which relies on spans, is that it becomes less useful when using Rayon, used to leverage parallelism in CPU-bound tasks.

Ever wonder exactly where your Rust code spends its time? I wrote a note on how to light up perf bottlenecks with Tokio’s tracing and the lightweight tracing-texray layer.

I might just have stumbled on the same functionality for Rust, and it was indeed quite simple to do! Have a look at github.com/huitseeker/l... : hopefully this is useful for someone!

Thanks @filippo.abyssdomain.expert for the inspiration and @simonwillison.net for the llm tool!

#rustlang #llm

My latest note explores this delicate balance—because this ain't a simple area; and I think design is about choosing the right trade-offs for the user.

7/7

Hybrid architectures might offer a way forward, blending the parallel strengths of BCB with periodic consensus checkpoints or innovative fraud-proof mechanisms.

6/7

Another major hurdle: scalability of reads. Without consensus, clients must query multiple validators directly, risking bottlenecks. Is BCB's speed benefit eroded by its read-path complexity?

5/7

The challenge: BCB systems inherently limit expressivity and introduce complexity around state contention. Is full parallelism practical, or are consensus-backed approaches like Sui actually better aligned with real-world blockchain usage?

4/7

At its core, BCB leverages independent state shards to eliminate global coordination, promising linear complexity over traditional worst-case quadratic Byzantine consensus. Theoretically powerful—but does this parallelism come at a hidden cost?

3/7

www.garillot.net/posts/2025/...
What's this about? New protocols like @poddotnetwork and @deltadotnetwork, but also older ones like @linera_io and the "fast path" of @SuiNetwork.

2/7

New blog post ! Byzantine Consistent Broadcast (BCB) has re-emerged as a path toward ultra-fast digital asset transfers. Projects like pod and delta claim major performance gains through parallel execution—but what's the catch?

1/7

There's also 1700 sites among the top 1M still using DKIM Keys < 1024 bits, apparently.
dmarcchecker.app/articles/cra...

Explore a revolutionary approach to ZK-proof aggregation with Proofcoin, a decentralized Layer 2 solution anchored to Ethereum. In this session from Aggregat... Proofcoin as a New Paradigm for Security and Flexibility | Francois Garillot | Aggregation Summit

www.youtube.com/watchv=p-6Ff...
Thanks @polygon.bsky.social for organizing!

The recording of my talk at the Agglayer Summit in Bangkok is out ! I tried to outline an approach to ZK-proof verification that combines parallel processing, sharded state, and 500ms latency. Here's to making proof verification more accessible & efficient in 2025! #ZKProofs