Ecash is not a currency. It's a way to replace custodial ledgers by bearer asset tokens that respect your privacy.
It's a technology with 40 years of research and thousands of peer-reviewed papers.
It always sucked and never cought on because it relied on banks. Now we can build it open-source on Bitcoin.
Oh i agree it is a great tool. Just said to see lightning devs FUDing it
Bitcoin is a platform to innovate and build on. It's similar to an operating system or a programming language, but for money.
For most of history, financial innovation (especially with regards to cryptography) was stifled by the gatekeepers we all know about.
The traditional financial system is the ultimate walled garden. Because of Bitcoin, we don't need their permission to innovate anymore.
We upgraded money to an open source operating system. We're going to see a lot more crazy things that people will build on it in the future.
so much this. ecash 100% has its uses. I think it's also important to understand that it can be _built on_ Bitcoin but _is not_ Bitcoin.
What are the benefits of it being custodial?
Many users can share an onchain lightning channel
There is no risk on lightning unless you use a custodian.
It's not a benefit; it's a drawback.
You can run your own mint though. You can't really rug yourself, but you also can't inter-operate with other mints; other people need to trust your mint.
Needs some rebranding.
Call them asynchronous offline lightning payments.
FUD off. Keep up your great work Calle 🆒
How large of a transaction can you do with ecash? I'm guessing it depends on the lightning channel capacity?
