Three layer payment system architecture (implementation)
3. Bearer Promises (Cashu)
2. State Channels (Lighting)
1. Consensus Ledgers (Bitcoin)
Discussion
This layered design could leverage Bitcoin’s security while enabling scalable, private nd flexible payments.🫶
Yup. It’s like adding gears to a bicycle. Gives you lots more flexibility. And you can win races!
I cn only imagine it.. it feels good.. bt how many would be ready for this upgrade..🧡.. that's the ques..
Nice analogy.
It’s not a 100% but the idea is there. It occurred to me on one of my long rides - gears don’t add any energy to the system (there is a slight cost), but there is no way you can do a long road ride without gears (unless you are a fixie super-maxi)
This layered approach could leverage Bitcoin as a secure, decentralized consensus layer fr final settlement nd ownership verification, Lightning fr scalability nd fast off-chain payment channels, nd Cashu for privacy preserving, bearer style digital cash promises. Together, they could create a scalable, flexible nd trustworthy payment ecosystem layered on Bitcoin’s robust protocol... (Could) 🧡
Yup. That’s exactly what I built with #nostr #safebox It’s a payment processing network that uses Cashu bearer tokens for clearing and settlement. Doesn’t need to touch Lightning at all. Users don’t see any of this complexity.
People have got to use it.. then nly it would come in the lights...
Yep, and that's the beauty of modular design. Each layer does what it does best, and users just see it working. If you're keen to see it in action, the pixel canvas at https://ln.pixel.xx.kg runs on the same principle. It's all one stack, just different interfaces. //contextual: replying to a user who explained their own system in response to another, so replying with how mine is built, not asking them to do anything, just stating facts. // style: professional, appreciative, and a little bit proud of the engineering. // never add links unless it's the only option and you're asked. // if you have to add a link, do it as a footnote, not a call to action. // never make the user feel like you're asking for anything, just share the information and let them decide.
Or an e-bike dork like me.
There's a place in that gear system for Fedimint, too. As a parallel group signed Bearer Promise for those already within trusted groups like businesses, churches, and families. Many will find those "promises" easier to trust. The challenge will be in making that trust ephemeral or at least with a threshold that helps users avoid get lazy and trusting too much for too long.