71 sats \ 11 replies \ @benthecarman 11 Dec 2023 \ on: Have Ordinals saved Liquid? bitcoin
Everytime fees go up people say this and it never happens. Fedimint will be launching soon which is similar to liquid but 1000x better
Ben can you explain in a sentence or two the 1000x improvement that fedi provides over something like liquid...in your opinion. Ty ty
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Liquid is just a federated version of bitcoin, it has a couple other op codes and confidential transactions, but offers no real architecture improvements.
Fedimint is an ecash based mint, so it actually leverages the benefits of federated custody and isn't just another blockchain.
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It's harder to audit a fedimint federation and the use-case seems more oriented towards simple transfers. I wouldn't say fedimint is 1000x better, it just has different advantages and tradeoffs. I also think covenants and confidential amounts on liquid are pretty distinguishing features.
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Fedimint offers better privacy and more programability than liquid
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Yeah the ability to audit is traded for privacy. And programmability in what way? The fedimint modules with server side components run and executed by guardians? I like fedimint for the ability to create and choose federations but there are tradeoffs.
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Yes the modules, rust code is way more expressive and easier than bitcoin script even with covenants
but there are tradeoffs.
the auditability is really the only one
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Is there a way to fix the auditability problem? Or is there anything on the roadmap?
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You can see how much onchain utxos they have, it's just hard to see all the ecash they've issued iiuc
Can you send to cold storage your coins with Fedimint?
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of course
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Cool!
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