Trust Models (refer back to this when someone claims their thing is “non-custodial”, note that privacy is a different spectrum)

* Holding Funds On Chain

* Trusting you can get a transaction confirmed in some time horizon where your balance is way higher than the on chain cost (LN)

* Trusting you can get a tree of many transaction confirmed in some time horizon where your balance is way higher than the on chain cost of the whole tree (in-round Ark for high-ish balances, rollups for *very* high balances after some future soft-fork)

^ non-custodial

v custodial

* Trusting you can get a tree of transactions confirmed in some time horizon where your balance is similar to the on chain cost (in-round Ark for moderate balances, rollups for most folks after some future soft fork)

* Trusting 1-of-N with keys (rollups with BitVM)

* Trusting N-of-M to do something honestly once in a TEE (statechains maybe?)

* Trusting N-of-M to do something honestly once (statechains/statechains-on-Ark)

* Trusting N-of-M with keys (Liquid, Fedimint)

* Trusting 1 entity with keys (Cashu, Coinbase, …)