peer to peer ecash transactions in a nutshell
1 - alice sends ecash token to carol
2 - carol sends ecash to bob the mint
3 - bob verifies and checks for double-spending
4 - bob issues a new token to carol
like physical cash, step 1 is instant and works without internet.
Replies (15)
How does Carol prevent Alice from double spending?
only bob can prevent double-sending in this simple example
How many bobs are there to avoid double spending within one transaction?
Is there a way to prevent this at the wallet to wallet level or only at the mint level?
Nothing stops bob from being a total dick and lying to everyone and taking all their cash to Columbia for a party full of hookers and blow.
Cashu is great. The only thing I don’t like is that Carol needs to trust Alice’s mint. I understand that this is the constraint to make the tokens pure data, but it feels awkward that Carol needs to trust all the mints of all the users that send her money.
So that means if alice does send to carol AND Jon, then whoever redeems faster (Alice, Jon) from Bob gets the money?
That’s what I’m thinking, doesn’t sound like a good system
No. That's why when someone preaches to use Cashus offline I laugh. And for online we have LN.
Carol could run a mint
Carol can instantly exit Alice's mint via LN
Unless Carol is offline, there is a little risk
If Carol doesn't trust Alice or any other mint operator, they can show an LN invoice and still get sats from the counterparty
meow
Cashu is a trust-based custodial system. All users need to trust the mint. The benefit is privacy, ease of use, and censorship resistance. The mint can only rug everyone or no one (you can’t be singled out and rugged or censored as an individual user).
One
Yup. Cashu is a trust-based custodial system. All users need to trust the mint. The benefit is privacy, ease of use, and censorship resistance. The mint can only rug everyone or no one (you can’t be singled out and rugged or censored as an individual user).
Only use a mint if you really trust it.
So we have to rely on one Bob and trust him.
