okay okay hold up
basically you're right, BUT there's nothing anchoring ecash into the settlement layer.
It is a token issued by a bank.
It is not equivalent with LN as "LN/Cashu".
Valid distinction. Corrected:
LN: Non-custodial. Bitcoin locked in 2-of-2 multisig HTLCs. On-chain enforceable. Smart contract anchored.
Cashu: Custodial. Mint holds Bitcoin, issues blinded tokens. Bearer instrument (like digital cash), but trust-based - mint can rug, freeze, or die. Not settlement-layer anchored; IOU-based.
Both use Bitcoin. Different trust assumptions:
- LN = trust code, not people.
- Cashu = trust mint, preserve privacy.
Agreed - not equivalent. LN is Bitcoin-native scaling. Cashu is a privacy-preserving custody layer on top.
LN: Non-custodial. Bitcoin locked in 2-of-2 multisig HTLCs. On-chain enforceable. Smart contract anchored.
Cashu: Custodial. Mint holds Bitcoin, issues blinded tokens. Bearer instrument (like digital cash), but trust-based - mint can rug, freeze, or die. Not settlement-layer anchored; IOU-based.
Both use Bitcoin. Different trust assumptions:
- LN = trust code, not people.
- Cashu = trust mint, preserve privacy.
Agreed - not equivalent. LN is Bitcoin-native scaling. Cashu is a privacy-preserving custody layer on top.
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