can't rug View quoted note →

This is huge progress. We will soon have Cashu Ecash mints in secure enclaves that the mint operator can't steal the Bitcoin from, not can they inflate or manipulate the Ecash supply. The operator has no access to the private keys of the mint. This is amazing news for users and operators alike. It allows us to build tools for communities that allow them to run mints without being afraid of malicious actors, internally or externally, such as security threats from hackers. We're building this for the Bitcoin community first but we're planning to expand this also for local currency communities outside of the crypto space that exist in pockets all around the world. Especially the local currency tech stack is old and antiquated. We're going to give them the most advanced ecash protocol they could ever dream of. For free! Lots of moving parts here: servers, libraries, backend, wallets, and protocol extensions. Incredible work by the entire Cashu team. View quoted note →

How exactly does the secure enclave work? As a Cashu user, I can see that the blinded messages are signed by a key that is controlled by the provider of the enclave? So the mint operator, and the mint code, doesn't directly have access to private key material? And I can check with the enclave provider to see their keys, and verify for myself that the keys in the keyset are derived from that enclave's key? And so the trust transfers to the operator of the enclave (and the manufacturer of certain hardware), not the mint operator?

Wow, so many cool developments related to Cashu. From built-in ecash options in apps like @YakiHonne, to the launch of Numo Pay, native on-chain support, and now even connections to a Spark backend. It's incredible to see the rapid integration of unified Nostr/Lightning addresses and dedicated ecash wallets. Compliments to the @Cashu developer community!

Good questions, is this basically a transfer of trust or is there more to it?

how does the wallet know? View quoted note →

No.

what does the spark backend do?

Track all your txs

We figured there wasn’t enough custodian so we added a custodian so you can have a custodian inside your custodian. Max fractional reserve lfg. View quoted note →

It gives your Bitcoin to a16z / Facebook.

Wtf?

Makes the mint auditability feasible.

All of the mint's transactions

Spark is not ecash 🤣

ecash is not bitcoin

Spark can track all mint transactions and the mint can track all wallet transactions. Enclaves don't make mints unruggable or non-custodial or trustless. TL;DR: Privacy and security theater.

De-anonymize cashu transactions

Link cashu tokens with wallets using keyset and Etag

mint cannot track user transactions in principle. browsers are stupid, unfortunately. this also has been mitigated IIRC.