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Cake Wallet shipped self-custodial Lightning this week. Built on Spark. No channels to manage, but what are the trade-offs?

Get your questions 👇

On Friday we're going deep: how Spark's statechain model actually works, what the trust assumptions are, and Seth from Cake Wallet demos the whole thing live.

9AM EST / 2PM UK. Live on the Ungovernable Misfits feed.

@MaxUM @Seth For Privacy @Ungovernable Misfits #FREEDOMTECHFRIDAY

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Btcwrestle · 1w

Is it accurate to describe Spark as self custody? No shade, genuinely curious. Seems like using Spark is regulatory arbitrage to keep wallet devs away from being considered money transmitters and just shifting that risk to Spark.

Louferlou · 1w

Spark seems to be really close to a custodian model tbh, as much rely on the will of the Spark entity to not rug you. But curious to hear this episode, even is Seth will triger me as usual 🤣 for sure. Bitcoin and Lightning doomer but Spark enjoyer perfect receipe to triger me.

Nick Klockenga · 1w

Is Cake Wallet on nostr? If not, why? :)

Schroedinger · 1w

what happens to my funds if spark disappears, are they recoverable in any way, in another wallet? who am I trusting in using LN in cake? what can spark/cake see from me, transaction details, IP address, balance...? how are swaps LN <-> BTC done?

What are the main differences between cake’s spark implementation and other ones like WOS ?