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Notes -
The steel man for keeping things as fast as possible is that anything artificial we impose might be worse and fucking up market making would be a pretty big deal. So much money hinges on that a regulator really cannot afford some dumb solution that benefits a single arbitrary party or is open to abuse. It's not an unsolveable problem, but just letting people compete on speed does solve it pretty well, so there's not a ton of incentive to fuck with what currently works.
Crypto is trying a bunch of different things to solve their version of this (They refer to it as MEV, basically the problem of block producers reordering transactions to extract value by front-running), and solving it algorithimically at the protocol level in a way that doesn't have some sort of drawback is currently proving really difficult.
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