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333 sats \ 9 replies \ @nout 28 Oct 2022 \ on: Tether, Holepunch, and Synonym Launch Pear Credit, a P2P Credit System šš³ bitcoin
That article contains exactly zero information besides the name and repeating "peer-to-peer"
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 shouldnāt have said ālaunchedā, maybe āannouncedā would have been better. They do have more technical info out there about Holepunch which is the infrastructure itās being built on.
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Itās just tokens on Lightning. Fiat, Airline points, Loyalty points, etc.
Idk what they were thinking with the word ācreditā.
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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 thereās trust involved.
Trust that youāll be able to redeem the IOU.
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Not necessarily. Sometimes tokens are issued and they donāt really know what they will be used for. Mcdonalds points are redeemable for random rewards and you lose them over time. Thereās really no guarantee there other than āyou might as well save these and theyāll 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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