Spinning up a node is never going to be simple enough for the average person, and even if it were, the on-chain capacity will prohibit it. Innovations will continue to address this (channel factories, etc) but the limitation can’t be removed.

Ecash, however, removes all such limitations. I suspect this is the layer 3 the world will adopt.

All three layers will be open to those who can afford them, and a free market for competitive access to higher layers through providers (blockspace, liquidity) has already begun to develop naturally

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Discussion

Isn't ecash fully custodial?

No, it has an issuer, but that issuer can’t see who has what balances and can’t move their balances. They could theoretically cancel redemption of a specific bundle of cash but they’d have no way of knowing who they were confiscating from.

The issuer could over-issue ecash claims on underlying bitcoin but the implementations being built all enable instant redemption out via the lightning network

In other words fractional reserve could happen but the remedy would be lightning fast bank runs

And it will still be a massive privacy improvement over the current banking system… imagine individual banks issuing their own digital bank notes for example

It’s all trade-offs, and it’s important to compare it to the existing system as much as we compare it to a perfect ideal

Thanks