JackTheMimic on Nostr: Please, please, please, have a robust Layer 2 to build on before creating the credit ...
Please, please, please, have a robust Layer 2 to build on before creating the credit layer (layer 3). Having multiple solutions as failsafes and interoperable work around helps keep a credit expansion or crunch from destroying a proposed credit layer.
Lightning- a layer 2 liquidity pool between individuals
Liquid- a sidechain maintained by 15 functionaries.
Two is too few especially with their limits. Ecash would be a nice idea as well if it weren't a layer 3 credit structure as well.
A proposal for a mint type structure where BTC is locked in a multisig that issues coins from its supply based on tokens created within the mint, would be a start.
Anyway, I hope this was considered prior to the creation of bitcredit.
Lightning- a layer 2 liquidity pool between individuals
Liquid- a sidechain maintained by 15 functionaries.
Two is too few especially with their limits. Ecash would be a nice idea as well if it weren't a layer 3 credit structure as well.
A proposal for a mint type structure where BTC is locked in a multisig that issues coins from its supply based on tokens created within the mint, would be a start.
Anyway, I hope this was considered prior to the creation of bitcredit.