Given that existing stock markets do not operate on blockchain technology, certain aspects of transactions must be executed off-chain. Specifically, API calls made to a broker for order execution and market making occur off-chain. Once the broker executes an order, records that information on the blockchain.

While off-chain activities, including market making, cannot be verified with absolute certainty, they are managed by licensed companies subject to oversight from governmental entities, ensuring a degree of trust and reliability in the process.

However, one drawback of off-chain market making is the lack of transparency. These activities are often hidden behind a black box, making it difficult for users to fully understand the intricacies and mechanics behind market making. As a result, there may be some concerns related to transparency in this off-chain world.

Despite this limitation, the existing regulatory oversight and established market makers' reputations contribute to maintaining a secure and trustworthy environment for users.