Oddbean new post about login | logout Sometimes I wonder, with innovations such as Fedimint and Cashu, do we still need something like Ark?
Fedimint and cashu pretty much rely on lightning to be interoperable. This stack is insanely complicated
Can you point me to some reading that explains ARK?
Sure this can *in theory* replace LN and eCash, but the ASP model is the only weakness in the system as far as I can tell so from reading the arkpill website. Need to think how it can be attacked or regulated by evil actors.
I see. The way I understood it, ASPs are lighting nodes too.
Actually ecash, Cashu/fedimint don't rely on a specific underlying funding technology. Lightning is nice because it gives instant settlement which is great for the swap ux. It could easily be interoperable with other shitcoins, L2s or even good ol' paper. It's just custodial tech
I like the idea of having something like cashu, but directly correlated to onchain BTC. If I’m understanding correctly, isn’t this what Ark is?
yeah, you onboard user funds offchain via a “virtual utxos” that are linked to the onchain utxo. You can do this in a trustless way. I don’t fully understand it yet because it almost sounds too good to be true, still looking through the code. I see musig and tweaking which is interesting…
Wow. Does any movement happen on-chain during the vtxo process? If not, what a scalable solution IMO. Looking forward to more sharing on this from you. 🤯
onboarding is out of round, so its instant. You just provide a taproot address and the ASP virtually allocates a bit of the utxo to your address. If you want to do a unilateral withdrawal you need some btc in your wallet but otherwise it requires no inbound liquidity.
say whattt?!?!? So cool. Thanks for looking into this!
Yes, we still need it. Everything comes with it's own tradeoffs. https://image.nostr.build/722de23843011899dc4f249f242e90f704559eac55101c640aa6b786fca0e8e7.jpg
