What’s the use case of e-cash?
Discussion
Privacy
No way to like but via comment. But I like
That’s not a use case
Hmm. Does the reason I use it not count?
’m trying to figure out what can you do with ecash that you cannot already do with the LN.
There’s some privacy issues with Lightning. Excellent write up by Voltage.
https://voltage.cloud/blog/lightning-network-faq/lightning-network-privacy-explainer/
Proving you have a claim to sats held by a mint and can tell it to send them somewhere.
What would be the real world use of that?
It's the same real world use as using Wallet of Satoshi, but with significantly better privacy, distributes custodial risk, and helps decentralize the lightning network more by lessening the need for large custodial wallets.
Also you can print ecash notes as QR and give it to someone as real notes. Think of the unbanked, having issues even with mobile money fees across Africa, for example.
They can have stash of nuts and bring some to the local grocery, that also operates a mint.
A lot of trust involved but yeah, that's a good use case.
Almost paper one-use opendimes.
But does cashu distribute custodial risk? I thought it was only federated solutions that did that.
In the sense that instead of a few large custodial wallets where a bad actor can steal the funds ofany thousands of users, instead there are thousands of Cashu mints where a single bad actor can only steal the funds of a few users.
Actually can’t you send the sats yourself to anyone? Meaning you don’t need to ask them to send it somewhere. Instead to burn and reissue when the recipient wants to take ownership of the sats.
Privacy for custodial lightning.
Perfect privacy ✌️
- privacy
- scalability
- low fees
It has trade-offs though.
OPA: “What’s the use case of ecash?”
Everyone: “Privacy!”
OPA: “…. uh sorry what?”