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0 sats \ 0 replies \ @allmightyrandom 31 May \ parent \ on: Summarizing my thoughts on ecash bitcoin
Here the differences chatBTC gave me:
Purpose:
LNURL-w: Facilitates easy withdrawals from Lightning Network wallets.
Ecash Token: Provides anonymous digital cash-like transactions.
Privacy:
LNURL-w: Focuses on ease of use rather than privacy. Transactions are not inherently anonymous.
Ecash Token: Prioritizes privacy and anonymity through cryptographic mechanisms like blind signatures.
Transaction Process:
LNURL-w: Involves scanning a QR code to automate the withdrawal process from a Lightning wallet.
Ecash Token: Requires interaction with a mint to issue, transfer, and redeem tokens while maintaining user anonymity.
Trust Model:
LNURL-w: Relies on the existing trust model of the Lightning Network and its nodes.
Ecash Token: Trusts the mint to issue and redeem tokens correctly while ensuring privacy and preventing fraud.
Usage:
LNURL-w: Mostly used within the context of the Lightning Network for quick and seamless withdrawals.
Ecash Token: Can be used for various anonymous digital payments beyond just the Lightning Network.
These distinctions highlight how each system serves different needs within the realm of digital currencies and payments.