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That article contains exactly zero information besides the name and repeating "peer-to-peer"
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As much as they used peer-to-peer, I had to double check that pear wasn't a typo.
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Agreed. They shouldnā€™t have said ā€œlaunchedā€, maybe ā€œannouncedā€œ would have been better. They do have more technical info out there about Holepunch which is the infrastructure itā€™s being built on.
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Itā€™s just tokens on Lightning. Fiat, Airline points, Loyalty points, etc.
Idk what they were thinking with the word ā€œcreditā€.
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Are you sure it's actually on lightning? The only mention is "Lightning-Network-styled speed", which doesn't give me confidence...
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Yes. Synonym has been planning this for years. It used OmniBOLT https://synonym.to/our-stack/
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Saying OmniBOLT is lightning is not really accurate imho. Instead of "tokens for lightning" it's "lightning for tokens". You need an entirely new network instead of using the existing one.
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Credit as in IOU
Credit means thereā€™s trust involved.
Trust that youā€™ll be able to redeem the IOU.
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Not necessarily. Sometimes tokens are issued and they donā€™t really know what they will be used for. Mcdonalds points are redeemable for random rewards and you lose them over time. Thereā€™s really no guarantee there other than ā€œyou might as well save these and theyā€™ll beā€¦ somethingā€ idk.
When I think of credit, I think of placeholders for money that is redeemable for the money. The use case of this is much broader.
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Was kind of just paraphrasing what the tweeter, one of the team, tweeted
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John Corvalho is playing with the big boys now
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Here's the Tweet that kicked off a Twitter thread where Synonym's CEO John Carvalho announced this as well:
Today, we at @Synonym_to, together with @Tether_to, and Holepunch (@keet_io), announced šŸPear Credit.
Pear Credit is a new P2P open protocol that allows anyone to issue centralized credit tokens without a blockchain, using cutting-edge Hypercore designs.
1/3
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Nitter link points to twitter
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Oops, thank you!
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Curious what the story is with pear... anyone?
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