0 sats \ 6 replies \ @thrown 28 Oct 2022 \ parent \ on: Tether, Holepunch, and Synonym Launch Pear Credit, a P2P Credit System šŸšŸ’³ bitcoin
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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1 sat \ 2 replies \ @nout 28 Oct 2022
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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0 sats \ 1 reply \ @thrown 29 Oct 2022
Yes. Synonym has been planning this for years. It used OmniBOLT https://synonym.to/our-stack/
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0 sats \ 0 replies \ @joko 29 Oct 2022
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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0 sats \ 2 replies \ @_b_o_n_e_s_ 29 Oct 2022
Credit as in IOU
Credit means thereā€™s trust involved.
Trust that youā€™ll be able to redeem the IOU.
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0 sats \ 1 reply \ @thrown 29 Oct 2022
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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0 sats \ 0 replies \ @_b_o_n_e_s_ 29 Oct 2022
Was kind of just paraphrasing what the tweeter, one of the team, tweeted
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