eCash is a custodial but very private way to send a “bearer instrument” (like cash) back and forth, but (unlike wallet of satoshi) the custodian doesn’t really much about who transacts with who, or for how much, thanks to the cryptography involved.
With Cashu, it’s an eCash protocol, but instead of representing dollars (which is why the first eCash experiments failed), a Cashu token’s value is pegged to Bitcoin, and the custodian (“mint”) presumably hold exactly the right amount of Bitcoin in relation to the value of the Cashu notes they have issued.
Happy to answer questions if unclear; I’m still learning this myself 🤙
bostonwine / boston wine
npub14q…e2q26
2024-05-21 17:45:01
in reply to nevent1q…2z2l
Author Public Key
npub14qz92uedt0a8jte8jqg63jr3s5cc99cej36jh883z6tprlu354uqqe2q26Published at
2024-05-21 17:45:01Event JSON
{
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"pubkey": "a80455732d5bfa792f279011a8c871853182971994752b9cf1169611ff91a578",
"created_at": 1716306301,
"kind": 1,
"tags": [
[
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],
[
"p",
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"content": "eCash is a custodial but very private way to send a “bearer instrument” (like cash) back and forth, but (unlike wallet of satoshi) the custodian doesn’t really much about who transacts with who, or for how much, thanks to the cryptography involved.\n\nWith Cashu, it’s an eCash protocol, but instead of representing dollars (which is why the first eCash experiments failed), a Cashu token’s value is pegged to Bitcoin, and the custodian (“mint”) presumably hold exactly the right amount of Bitcoin in relation to the value of the Cashu notes they have issued.\n\nHappy to answer questions if unclear; I’m still learning this myself 🤙",
"sig": "800fc265691317a9e9bb45c50e8fe3189fdb1c3c9f6812d56b1f3d532e8ac515cc3fe6bdff6ef18d10c80281f3ff369ecc3d6e388e00a925d5ccab71bb065e70"
}