ciori on Nostr: Some thoughts about Fedimint and Fedi given the recent launch event: I like the idea ...
Some thoughts about Fedimint and Fedi given the recent launch event:
I like the idea behind distributed eCash at least in principle, BUT I still have some doubts on the practical side of things:
- As I understand, Fedimint is distributed only at the cashu level as the federation still requires a SINGLE lightning gateway to function properly. While it is obviously a nice thing to have, I wonder whether this will really make a difference in practice: if we think federations as communities or companies, they might be "distributed" technically, but are still a "single" attackable entity, so what's the difference here from a simpler cashu mint?
- When Fedi open source code? You have money and chat together and expect us to trust a closed source app? I hope the code will be available soon (and with reproducible builds)
So in the end, what I want to say is that unless we get federations composed of different entities that have little to do with each other, like a sort of good "cartel" (so that multiple guardians will actually make sense), fedimint "is only" useful to increase (how much? You still rely on a single LN gateway) the technical difficulty to attack a federation (guardians on geographically distributed nodes, on different cloud provider or datacenter, with different implementations, etc...).
I might have been to harsh here, but this is just my first thought about this, anyway I still like the general fedimint idea.
I like the idea behind distributed eCash at least in principle, BUT I still have some doubts on the practical side of things:
- As I understand, Fedimint is distributed only at the cashu level as the federation still requires a SINGLE lightning gateway to function properly. While it is obviously a nice thing to have, I wonder whether this will really make a difference in practice: if we think federations as communities or companies, they might be "distributed" technically, but are still a "single" attackable entity, so what's the difference here from a simpler cashu mint?
- When Fedi open source code? You have money and chat together and expect us to trust a closed source app? I hope the code will be available soon (and with reproducible builds)
So in the end, what I want to say is that unless we get federations composed of different entities that have little to do with each other, like a sort of good "cartel" (so that multiple guardians will actually make sense), fedimint "is only" useful to increase (how much? You still rely on a single LN gateway) the technical difficulty to attack a federation (guardians on geographically distributed nodes, on different cloud provider or datacenter, with different implementations, etc...).
I might have been to harsh here, but this is just my first thought about this, anyway I still like the general fedimint idea.