Cashu, linked below, is one implementation of ecash. Fedimint is another, in development.
Someone please correct me if anything below is wrong:
Essentially, a person, or a group using multisig, starts a mint. Others who wish to use ecash send their bitcoin to the mint, and the mint issues them ecash tokens in exchange. The ecash tokens allow for complete privacy, as the mint does not know who you are, what your balance is, or who you’re transacting with. From my understanding the ecash tokens are just files stored on your local device, and can be transacted with anyone willing to accept them. No one is made aware of the transaction except parties involved, because you’re just sending a file. If you want your bitcoin back, you send the tokens back to the mint and the bitcoin equivalent is sent back to you.
https://cashu.space
やトナ
npub1zm…masvy
2023-05-02 22:17:39
in reply to nevent1q…wlad
Author Public Key
npub1zmsrvhdse0fhdnzqt44gt0vxpft654e0p9tuas0644229rjjz4esumasvyPublished at
2023-05-02 22:17:39Event JSON
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"pubkey": "16e0365db0cbd376cc405d6a85bd860a57aa572f0957cec1faad54a28e521573",
"created_at": 1683058659,
"kind": 1,
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"content": "Cashu, linked below, is one implementation of ecash. Fedimint is another, in development. \n\nSomeone please correct me if anything below is wrong:\n\nEssentially, a person, or a group using multisig, starts a mint. Others who wish to use ecash send their bitcoin to the mint, and the mint issues them ecash tokens in exchange. The ecash tokens allow for complete privacy, as the mint does not know who you are, what your balance is, or who you’re transacting with. From my understanding the ecash tokens are just files stored on your local device, and can be transacted with anyone willing to accept them. No one is made aware of the transaction except parties involved, because you’re just sending a file. If you want your bitcoin back, you send the tokens back to the mint and the bitcoin equivalent is sent back to you. \n\nhttps://cashu.space ",
"sig": "f74ca0b5aa0795e9283225ae1cd1d4ca9d49e654f1478c571735fa9325c56e3a23d7abf7d216dd876c5198d22e82be31a4f2539bbd2fde77e617edca353bce24"
}