The hacks, that are not insider, are hacks at the input and output queues of the exchanges which have to be hot wallet.
The queues can be made secure with a short term blockchain, a blockchain with delete, like a liquidity tracking machine. Each trader has a notary service, checks to make sure the bid on the liquidity chain is valid. The hacking problem then shifts to securing the notaries, an easier task.
The best blockchain rule for queues is organize for significance, run time huffman quantization tree, which should gave one solution. Your notary, if honest, can validate your bid. In a pit, of course, your notary is your trading bot.
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