
The Crypto Explorer - by Sygnum Bank AG S2E11: The future of decentralised trading with Thibault B from Hibachi
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May 12, 2025 Thibault B, co-founder of Hibachi, dives into the future of decentralized trading. He reveals how trustless infrastructure and proof of solvency are critical in shifting traders from centralized exchanges. Fast-paced discussions cover cutting-edge technologies like RISC Zero and Celestia, which bolster security and scalability. Thibault explores the obstacles to mainstream DeFi adoption and shares insights on cross-chain liquidity. Amid market downturns, he emphasizes the need for resilience and innovation in the evolving crypto landscape.
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Pragmatic Decentralization Strategy
- Not every layer in DeFi needs full decentralization; focus on user experience at the application.
- Select the best solution at each stack level: decentralized where critical, centralized where it benefits performance.
Hibachi's Layered Technical Stack
- Hibachi uses an off-chain order book and matching for low latency, on par with Binance.
- Settlement and proofs are posted on-chain using ZKVM and Celestia for data availability.
Choosing ZK Tech Partners
- Choose ZK technology partners based on both technical quality and team collaboration.
- Advances in ZK tech now allow scalable, cost-efficient proofs to secure exchange solvency.

