Replying to Avatar bitcoinjiujitsu

What are you exchanging for the sats that you received from the Federation? I thought you would get e-cash tokens in exchange for bitcoin/sats that you “peg-in”
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Tuvok 2y ago

e-cash is a protocol or technology!

so what you get inside a federation is sats as ecash like you get LN sats in the LN. But in the end this are all sats.

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bitcoinjiujitsu 2y ago

Hmm seems I will have to do some more self verification, my impression was that you are not handling UTXOs when you are using e-cash. You’ve exchanged UTXOs for the e-cash. The e-cash tokens are now valuable L3 and the federated mints UTXO backing can be verified with range proofs.