Reading about https://cashu.space/ now.
So mints are LN endpoints like any LN node I presume. Once the BTC (over LN) has arrived at the mint, it is backing then a certain amount of cash tokens.
Payment to people on same mint is fast. To other mints would require cashu -> lightning (BTC on LN) and then LN transaction to the other mint and conversion (once received) to cashu.
Is this a correct understanding? Cashu is just a usecase of LN that pairs LN-BTC as backing to a new token?
"payments to people on the same mint is fast". More like "instant". Once you create an ecash token, it's a bearer asset - if you have the key you have the funds already.
(But there's no "instant" way to know this key wasn't photocopied and left around town without checking with the mint to see if the funds are already claimed. ..or if the mint is down...)
Thanks for the info!
And zero tip
I just moved a cashu now from one mint I have cashu on to another.
So my understanding is this happened:
That mint exchanged the cashu amount to the BTC amount, sent a Lightning Transaction over the LN network (which may have routed multiple hops), the LN address is that of the receiving mint or? And then I suppose the receiving mint exchanges that back to cashu for the receiving user.
When I wanted to send from my one mint I generated an invoice. I then pasted that in. So the way this feels is more of a "Bob can request 2 cashus from me and because I signed it (I presume, as I generated the invoice) he can redeem it)?
I think I need to understand how the interactions work at each level here.
Ah I have absolutely no idea how inter-mint stuff works.
I'll be curious to see what you find out
I will try my best. I find it fascinating.
Actually seems I did not do an inter-mint transfer.
got an idea tho on how to
Update. I had to withdraw some cashus on Minibits mint to a lightning endpoint of the other mint. Then it did a LN transaction on LN network and received in my other mint as cashus.
