Great question.
Essentially, eCash on Cashu is custodial lightning with some extra steps that allow it to be more private. The mint can't see your balance or who is sending sats out of the mint. It's free-banking on lightning.
It is NOT self-sovereign. You are trusting the mint with your money, just like any other custodial relationship.
The mint goes away and your ability to exit back to lightning goes away with it. They can rug you at any time.
I see! Had the right idea initially it seems.
Appreciate how you explained it, much time saved. 🙏💚
what is a "mint" in this context?
The "mint" is the custodian who holds the ACTUAL sats in the form of lightning channels, and then issues eCash tokens to their users. When funds are spent in a way that they need to exit the custodian, those tokens are melted (think deleted) and the actual sats are sent out via lightning from the custodian to their destination.
