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30 sats \ 3 replies \ @nikicat 27 Sep 2023 \ on: 📢 AMA with gandlaf: Unveiling PROXNUT! bitcoin
What are the disadvantages of this way of content monetization compared to classical mechanisms (like topping up a balance using a credit card)?
What will happen if the user clears his browser's local data? Will funds be lost?
There is a few differences between the account/balance model, and the ecash model. I think there are both advantages and disadvantages:
disadvantages:
- you store tokens locally, so they can be more easily stolen or lost
- there is no 'syncing' between devices
- doing identity stuff makes no sense
advantages:
- no need to set accounts / get tracked
- every interaction is stateless
- no data honeypot / data stays decentralized, on the users machine
I don't think one is strictly better than the other, but each of them is definitely better than the other at certain things!
If you need identity, account model
if you don't, ecash!
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Presumably each API call also needs to make a round-trip to the mint, right? This extra latency could be considered a disadvantage.
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correct, that should be seen as a disadvantage. If PROXNUT gets to a point where it is deployed into production environments and performance and speed are crucial, the mint should either run alongside proxnut, so verification time is negligible, or if we need to squeeze out even more performance, PROXNUT itself should become a mint.
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