LayerZero and 21X completed an institutional-grade on-chain order book pilot on the Zero private permissioned blockchain, achieving 10,000 order matching per second, a performance improvement of approximately 45 times compared to the EVM baseline.
This pilot program, lasting approximately one month, will operate the 21X central limit order book entirely on-chain, focusing on US stock tokens and enabling matching and settlement to be completed within a single transaction. Zero was announced by LayerZero in conjunction with Citadel Securities, DTCC, ARK Invest, and Intercontinental Exchange, among other institutions.