problem with fedimint and cashu is, its vulnerable to spam.

since it remembers every used note and has to store and index them forever.

it kinda goes out of control after a while.

instead we can have utxo style notes, maybe.

like create a public/private key pair for the note, give the public key to the mint, mint assigns a value to it.

then you can transfer the private key or signatures to transfer the note to someone, just copy paste it.

then recipient burns it and reissue a new one from the mint the same way.

in this design mint only remembers the unused notes, not the used ones.

so it doesnt grow forever. there are deletes. which also makes proof of funds easier.

but it doesnt have same kind of privacy, because you can link each note to each-other. track where it goes.

but you still dont know who it goes to. because there is no concept of a wallet/account public key. there is no name, no id, no address.

there are only just tokens transforming to other tokens after being used by some IP.

so still have privacy.

so why not?