I think I'm missing something. What's the difference between Cashu and Sats? Are we talking about something like a stablecoin, with value of a unit = 1USD, or ... I don't get it... Sorry, I've been seeing a lot of talk about how exciting it is, but not enough about WHAT it is.
What am I missing? And yes, I've read the FAQ. I'm not seeing an answer there for some reason.
Cashu is NOT sats. A Cashu token (usually called ecash or "nut") is just a token, an IOU, a "voucher".
The nice thing about Cashu Protocol is that it creates a standard for some providers (mints) that are Lightning nodes to create ecash pegged 1-to-1 with sats. So if you go to a cashu mint to get some ecash the mint will ask you to pay an invoice of X sats, you pay the LN invoice and the mint returns to you X ecash tokens. The mint promises to let you redeem the tokens 1-to-1with sats.
This is how the cashu protocol works
I just watched the @BTCsessions overview on cashu, and I think I get it. It's not sats directly, but it's a token that can be used to make payments within an ecash node that carry the same value. I haven't gotten deep enough to need this myself yet, but I'm glad it exists.
Thanks for responding!
caahu.space is a great place to start learing it
So I have to trust mints? What if all mints runs by years by feds passing by honest people waiting to confiscate all satoshis?
You have to trust mints
Wouldn't then the problem that Satoshi Nakamo was trying to solve with Bitcoin, keep existing?
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
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