I have the same question. From a technical perspective, I can’t quite understand how Spark describes itself as nodeless and self-custodial. I hope someone can clarify this for me.
https://github.com/CodyTseng/jumble/pull/638#issuecomment-3477436664
“Spark operators” help facilitate transfer (by signing the transaction) so that means the user is one of the keys. What happens if the spark operators decide not to sign the transaction?
Who maintains the spark ledger? Isn’t that a trust system? If it’s not in a blockchain?
Who generates these keys? Could the generator keep a copy for themselves? Where are the keys that belong to the user stored? It seems the user only has 12 mnemonic words, which aren’t the actual keys used for the multisig.
This sounds like a contradiction. No ledger, but keeps a record. Is that not a ledger then? 🤨
Here’s my rough understanding, please correct me if I’m wrong:
Bob deposits funds into a Bitcoin address that’s controlled via multisig, with ownership held by Bob and Spark. When Bob wants to send funds to Alice through Spark, Spark generates new key shares and discards the old ones, and gives the new shares to Alice. Since Bob can no longer use the old shares on their own, ownership is logically transferred to Alice and Spark.
So, in theory, Spark doesn’t need to maintain a ledger. Whether it actually keeps any record, I’m not sure.
Thanks for the guidance, I have a rough understanding of how statechains work. But this seems different from what I’ve seen in the Breez Spark API. I haven’t seen anything about storing or using key shares, all I see are the 12 mnemonic words.
And Spark is a proprietary protocol with the company that runs it having exclusive control of who can be a service provider.
All while they can monitor all your transactions.
Kkk, proprietary protocolo? It's all opensource, anyone can create their own Spark entity with members you decides.
And yes, privacy is a problem that they want to improve.
yes, the protocol is tightly integrated with their infrastructure, and they basically control every aspect of it
oh also I just remembered they are the shitheads behind the "uma" protocol, which was an attempt to introduce KYC to lightning addresses and zaps
You know that Lightspark works with tradicional finance, banks and so on. Spark is opensource and a "gift" to the community, you can create your own federation if you want. Stop being a conspirator.
