puzzles 🧩 on Nostr: They are not sats, mints do not need to be backed by sats in order for the mint ...
They are not sats, mints do not need to be backed by sats in order for the mint operator to send some one ecash, nuts or whatever units the mint is issuing. Technically the ecash tokens are in a separate system that is not dependent on Bitcoin at all. Ecash can be generated within a mint that has 0 sats backing it. That mint just wouldn’t be interoperable with other mints and or lightning.
Published at
2024-07-31 18:12:59Event JSON
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"content": "They are not sats, mints do not need to be backed by sats in order for the mint operator to send some one ecash, nuts or whatever units the mint is issuing. Technically the ecash tokens are in a separate system that is not dependent on Bitcoin at all. Ecash can be generated within a mint that has 0 sats backing it. That mint just wouldn’t be interoperable with other mints and or lightning.",
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