Cashu offers the best privacy for custodial wallets. Custodial wallets make up the vast majority of all wallets in the world.
It's not 3D chess. Our plan is pretty obvious.
Login to reply
Replies (37)
Liquid is a Blockchain and has a transaction graph, block explorers, etc. Everybody sees which address pays which. Monero has better privacy than Liquid because the transaction graph is "blurred", but still exists. Coinjoins can help here as well.
Ecash has no transaction graph at all.
In short: hell yes!
Gotcha so the trade off is improved privacy but then we get back into counterparty risk, whats your thoughts on this? I’ll have to experiment with it.
Liquid is trying to scale one Blockchain with another Blockchain, fundamentally bad design principle
Is there a mint standard operating procedure that verifies their reserves are what they should be? Worries me that mints can cheat.
A random Cashu mint is less trustworthy than the liquid federation. Don't put more than a small spending balance in so you don't get rekt. It's meant for short-term payments and nothing else.
Mints can debase the reserves just like basically every non-ecash custodian can. Ecash can be audited better than an ordinary custodian though, but not as easily as a Blockchain.
It was kinda the common mindset of everyone back when it was introduced a long time ago.
Got it thanks
One difference: Liquid hides the amounts, which is great, but as it's a blockchain, the relationship between subsequent transactions is clear to be seen (transaction graph). That's not the case in cashu (ecash).
Ecash provides better tradeoffs for existing custodial systems, plain and simple... ¯\_(ツ)_/¯
View quoted note →
View quoted note →
We will also hide amounts (soon TM, WIP), it will have such insane consequences
Go on what are the insane consequences
Currently a wallet is composed of a bunch of nuts that make up your entire balance. We must do this to maintain privacy (all nuts with the same amount look the same to the mint).
When we hide the amount, we can store the entire wallet in a single nut while having better privacy than today. Wallets will be less than 1kb in size.
We will put them literally everywhere.
It will be in-fucking-sane
I certainly thought that we would see a thousand side chains by now...
Interesting keep us posted
How reliable are payments compared to say lightning where payments still fail sometimes?
Cashu uses Lightning for inter-mint payments. A mint likely has better channels than an ordinary user but Lighting remains Lightning.
Intra-mint payments always settle instantly.
Ok so mints are built on Lightning network then is that right?
Yes
Layer 3 enters the chat
test test
nostr is becoming the world wide banking protocol
Facts
A nut in every application 🫂
Nutrections for everyone
I have no idea what is going on
eCash >>>>>>>>>> Custodial lightning
View quoted note →
yes
we ain't seen nothin yet
protocol
open source
no limits
LFG!
Sounds amazing! Can I read more about this somewhere?
Great framing
why does cashu need lightning, my friend (voices in my head) says you don't need it
As long as it’s a free market who cares if it’s custodial or not. The puritans getting all bent out of shape for no reason.
Settlement between mints
If you want to get knee-deep into the crypto:
WabiSabi paper on KVAC used for CoinJoins: https://eprint.iacr.org/2021/206.pdf
The Signal Private Group System and Anonymous Credentials Supporting Efficient Verifiable Encryption: 
We'll publish more resources on as we build out the protocol for Cashu.
IACR Cryptology ePrint Archive
The Signal Private Group System and Anonymous Credentials Supporting Efficient Verifiable Encryption
In this paper we present a system for maintaining a membership list of users in a group, designed for use in the Signal Messenger secure messaging ...
So cashu is coinjoin on Lightning?
or, and hear me out...
