Since Fedimint works with a single lightning gateway it has a single point of failure, so the Cashu model is might be strictly better? Unless there’s been progress on that front with Fedi?
Discussion
To clarify, the gateway operator can unilaterally restrict flow of funds right? For example they could go offline or lose keys independent of what the guardians do. I haven’t kept up with progress on Fedi in a long time so I could be way off base; not trying to spread misinformation.
Also a federation can have multiple lightning gateways. Users select which gateway to use.
That’s good to know, thanks! So each guardian could run a gateway then? If one went down then the federation would be running fractional reserve until that gateway came back online?
The gateways are separate from guardians. I believe the guardians must approve the gateways for their federation but anyone can run a gateway. The gateways are coded in such a way where the guardians and users never have custodial risk with the gateway.
I've learned a lot about fedimint from this guide: https://fedimint.org/docs/intro