What is Nostr?
pailakapo / pailakaPo
npub17cw…alhd
2024-08-04 05:06:17
in reply to nevent1q…cqu3

pailakapo on Nostr: 1. They blindly sign a transaction of an amount. They know they signed 1000 sats, ...

1. They blindly sign a transaction of an amount. They know they signed 1000 sats, don’t know the parties.

2. If you have an ecash token the mint has already signed it, so it’s just a string that you can send in a text or print out and hand to someone offline. Like a dollar bill, it’s an iou but for sats.
The recipient can hold the iou offline but to convert to lightning sats he would have to be online to have the mint verify and send the lightning transaction.

3. When you send sats to the mint and “mint” ecash the mint blindly signs it. The mint is not involved after that unless and until someone brings a token to “melt,” where the mint checks that this is a valid signature and that it hasn’t been redeemed before, then if so, then it melts/mints a fresh token for the user or sends a lightning transaction. So the token doesn’t have to be deleted, it can be saved, but it’s a worthless iou after it’s spent.

4. The blind signature is the mint just knows the amount. When it checks for validity it just needs a valid unused signature to redeem. It doesn’t care to or from whom the token comes.


** these answers may all be wrong, Calle will straighten me out. But I gave it a shot
Author Public Key
npub17cwgazyy9ahc0fu2cslql8w5csxg77zramt9rzel09yvxvrjk2eqntalhd