So is Cashu essentially an IOU that is backed but by a lightning transaction which is ultimately backed up by BTC.
So you can move an allowance across mints with lightning then trade on a mint without it needing to have a lightning transaction. So the offline-ness is because you’re only managing the IOUs of that lightning balance?
Or am I missing something.
I wouldn't say backed by, but rather a promise for. But yeah.
Also you can't move across mints without lightning, lightning is what connects them and what connects your ecash to payments.
I.e. when you pay a lightning invoice, you actually tell the mjnt to pay the invoice and provide ecash to prove you owned the appropriate amount to pay the invoice and to ensure you can't ever use that ecash ever again.
Got it, makes sense. Thank you 🙏
