keychat on Nostr: We hope more people can have their own Lightning Network channels, enabling them to ...
We hope more people can have their own Lightning Network channels, enabling them to have self-custodial LN wallets.
If new users (who doesn't yet have their own LN channel) needs to receive LN sats, but the amount is not sufficient to open a LN channel (due to the need to pay an on-chain transaction fee), they can use the LN channel of a trusted ecash mint to receive them.
The ecash mint gives them ecash sats. Once they have accumulated enough ecash sats, they can open their own LN channel.
Ecash sat is a bridge to self-custodial LN sat.
If new users (who doesn't yet have their own LN channel) needs to receive LN sats, but the amount is not sufficient to open a LN channel (due to the need to pay an on-chain transaction fee), they can use the LN channel of a trusted ecash mint to receive them.
The ecash mint gives them ecash sats. Once they have accumulated enough ecash sats, they can open their own LN channel.
Ecash sat is a bridge to self-custodial LN sat.
quoting note1cp6…a8xtFor current Bitcoin holders, we first possess on-chain sats, then convert a small portion of those into Lightning Network sats, and subsequently turn a small portion of the Lightning Network sats into ecash sats.
For new users who are not yet Bitcoin holders, they might first acquire ecash sats. Once they accumulate enough, they can have self-custodial Lightning Network sats, and as the amount grows further, they can then own their own on-chain sats.
The order of acquiring sats is potentially reversed for new users compared to existing Bitcoin holders. note1wet…ylgl