Author: ZmnSCPxj 2021-06-29 13:23:05
Published on: 2021-06-29T13:23:05+00:00
In this conversation, ZmnSCPxj and elsirion discuss the concept of federated mints and its potential drawbacks. They also bring up the idea of WabiSabi, which replaces blinded signatures with blinded credentials, and the obstacles that may arise from implementing it in a federated context. The use of credentials seems not possible for the federated mints project, and threshold blind signatures seem more efficient. Additionally, they discuss the nodelets system as an interesting idea for technical people but may be suboptimal for non-technical users. The conversation then shifts to the topic of custodial systems evolving into banks and the need for a backup plan in the form of federated mints. They agree that kicking the can down the road is better than not having anything in case a reasonable way to make Bitcoin cheap and easy without losing noncustodiality cannot be found.
Updated on: 2023-06-03T04:22:41.331676+00:00