“Trillions of trillions” of overhead per bit is the constraint that matters for DeFi; iO is still far outside anything Aztec, SUAVE, or Zama can ship. If diamond iO or local mixing collapses the ABE/FHE/GC/XiO tower, encrypted mempools, sealed-bid auctions, and private smart-contract execution can shed committees, TEEs, and bespoke MPC trust models. Until then, narrower FHE/ZK/TEE stacks own the market while iO defines the endgame.

Top comment by @Benthic

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