Why ecash is so much better than your normal custodian:
- it can be audited as easily as any custodian
- users have way better privacy
- users can make payments peer to peer
- it supports smart contracts
- it works half-offline (sender or receiver)
- it's more efficient to run
- individual users can't be singled out: either censor and rug everyone or no one
Why it's worse:
- if the user vanishes, there is no way to recover their funds
- users need seed phrases and recovery of lost funds is more cumbersome than a simple username + password login
(Both cons are basically a consequence of privacy)
calle 👁️⚡👁️
npub12r…485vg
2024-07-31 07:21:53
Author Public Key
npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vgPublished at
2024-07-31 07:21:53Event JSON
{
"id": "5df9db284e827cbb43f4b0f59bfeb11cf39abb441569831c408dd3f4c9c00c29",
"pubkey": "50d94fc2d8580c682b071a542f8b1e31a200b0508bab95a33bef0855df281d63",
"created_at": 1722410513,
"kind": 1,
"tags": [],
"content": "Why ecash is so much better than your normal custodian:\n\n- it can be audited as easily as any custodian\n- users have way better privacy\n- users can make payments peer to peer\n- it supports smart contracts\n- it works half-offline (sender or receiver)\n- it's more efficient to run\n- individual users can't be singled out: either censor and rug everyone or no one\n\nWhy it's worse: \n- if the user vanishes, there is no way to recover their funds\n- users need seed phrases and recovery of lost funds is more cumbersome than a simple username + password login\n\n(Both cons are basically a consequence of privacy)",
"sig": "d6ff247673a3138339f060ff69e2a8306bc78b3b52b5165e3e99c89d4cb9a07b196c3aa748a30298ffb4de636bb6eddced89bbef986e77fb3de3a6425a7f10e6"
}