> The eHash tokens (1token = 1share) need to be redeemed first by the miners, before they can be traded.
No, that is the entire value proposition of eHash. Trade it before it matures.
> The tokens are probably locked to the miner's npub until he withdraws
Again, no. The miner submits a blinded message (random number) with each share. The mint returns a blind signature over the blinded message. The miner unblinds it to get a valid signature from the mint's private key that commits to a secret value that the mint has never seen before. In order to redeem the token, the miner or whoever they have traded with presents the unblinded secret + unblinded signature. The mint has never seen this value before but it knows with cryptographic assurances that it is a valid ecash token.
vnprc
npub16v…umhgd
2025-02-17 15:35:24
in reply to nevent1q…94pl
Author Public Key
npub16vzjeglr653mrmyqvu0trwaq29az753wr9th3hyrm5p63kz2zu8qzumhgdPublished at
2025-02-17 15:35:24Event JSON
{
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"pubkey": "d3052ca3e3d523b1ec80671eb1bba0517a2f522e195778dc83dd03a8d84a170e",
"created_at": 1739806524,
"kind": 1,
"tags": [
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"content": "\u003e The eHash tokens (1token = 1share) need to be redeemed first by the miners, before they can be traded.\n\nNo, that is the entire value proposition of eHash. Trade it before it matures.\n\n\u003e The tokens are probably locked to the miner's npub until he withdraws\n\nAgain, no. The miner submits a blinded message (random number) with each share. The mint returns a blind signature over the blinded message. The miner unblinds it to get a valid signature from the mint's private key that commits to a secret value that the mint has never seen before. In order to redeem the token, the miner or whoever they have traded with presents the unblinded secret + unblinded signature. The mint has never seen this value before but it knows with cryptographic assurances that it is a valid ecash token.",
"sig": "a3ad90d67f23af10cadf7dd3707bcf3ff35d0a51349f53fb380f4285130f98f1f7c3356d0ebce58ba9998f63debdb931c26480fe38ce5f896df962d97a7d9af8"
}