So sats from lightning network is the same as ecash? So when you deposit L1 BTC into a mint, you get sats to spend?
Discussion
Yes, as far as what the user sees the payment flow looks exactly like any other Lightning wallet.
The difference is that under the hood you don’t have any Lightning channels so you can begin receiving payments immediately. It’s more like a custodial wallet experience, but instead of a single custodian, you have a decentralized network of ecash mints maintaining your balances and providing the infrastructure. You can switch between federations anytime or use more than one.
I’m still learning about it, it’s similar to what I’ve already experienced with Cashu and eNuts but a different approach.
Yes but not exactly. When you deposit bitcoin the mint will ‘mint’ ecash of the same value. This ecash can then be moved around (spent) within the mint with almost no friction. From my understanding if you want to send ecash to another mint that happens over lightning but I believe that is handled on the back end.