Nostr Web Client

Yep, to lock a coin, you must burn one that you have, and in turn you create one that is locked – you must be online and communicate with the mint to do that.

Similar to sending your bitcoin into an address (that's only spendable by the receiver).

Interesting detail: the mint doesn't see what you're locking the token to, the token (and its locking script) is blinded when you do. Upon spending the coin (i.e. unlocking it), the mint sees the script it's locked to.

Soon TM we want to add zk-scripts so that the mint doesn't even see the unlocking script anymore. 2 weeks

hodlbod 1y ago

Cool, so fully offline use basically depends on trusting the counterparty not to rug you for as long as you're offline. Do you see this impacting adoption in developing countries or low-trust scenarios?

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Discussion

calle 1y ago

Not exactly the case. One of the parties needs to be online to make a payment:

- if the receiver is online, send a normal token and receiver swaps

- if the sender is online, lock to receiver's pubkey and send

both transactions are final and can't be double-spent.

calle 1y ago

Sorry, misread. Yes, *fully* offline ecash doesn't have double-spend protection.

hodlbod 1y ago

Awesome, thanks for clearing that up for me