vnprc on Nostr: > The eHash tokens (1token = 1share) need to be redeemed first by the miners, before ...
> The eHash tokens (1token = 1share) need to be redeemed first by the miners, before they can be traded.
No, that is the entire value proposition of eHash. Trade it before it matures.
> The tokens are probably locked to the miner's npub until he withdraws
Again, no. The miner submits a blinded message (random number) with each share. The mint returns a blind signature over the blinded message. The miner unblinds it to get a valid signature from the mint's private key that commits to a secret value that the mint has never seen before. In order to redeem the token, the miner or whoever they have traded with presents the unblinded secret + unblinded signature. The mint has never seen this value before but it knows with cryptographic assurances that it is a valid ecash token.
No, that is the entire value proposition of eHash. Trade it before it matures.
> The tokens are probably locked to the miner's npub until he withdraws
Again, no. The miner submits a blinded message (random number) with each share. The mint returns a blind signature over the blinded message. The miner unblinds it to get a valid signature from the mint's private key that commits to a secret value that the mint has never seen before. In order to redeem the token, the miner or whoever they have traded with presents the unblinded secret + unblinded signature. The mint has never seen this value before but it knows with cryptographic assurances that it is a valid ecash token.