Author: ZmnSCPxj 2021-06-28 05:40:28
Published on: 2021-06-28T05:40:28+00:00
Chaumian mints have a major flaw that they are inherently custodial, meaning the mint can deny all its clients access to their funds and run off with the money to unknown places. However, Wasabi and WabiSabi avoid this issue by operating as a temporary entity, whose output is then counterchecked by the users of the scheme. Fidelity bonds are hard since the bond has to be at least the value of the funds being managed; otherwise, the mint can still sacrifice the bond to run off with the funds being managed. ZmnSCPxj introduces nodelets, which allow multiple users to implement a single node without a central custodian, and may allow for similar liquidity flexibility if there are enough users, but every action requires all users to have keys online. ZmnSCPxj became interested in blind mints while thinking about Lightning Network wallet usability issues, such as channel unavailability due to force closes, managing liquidity, and the unpredictability of the on-chain fee environment. To address these problems, he developed CLBOSS, which manages a C-Lightning node for non-technical users. ZmnSCPxj believes that algorithms and heuristics developed for CLBOSS will be widespread and will make it easier for normies to run well-managed forwarding nodes.
Updated on: 2023-06-03T04:14:29.600720+00:00