ciori on Nostr: Some thoughts about Fedimint and Fedi given the recent launch event: I like the idea ...
Some thoughts about Fedimint and Fedi given the recent launch event:
I like the idea behind distributed eCash at least in principle, BUT I still have some doubts on the practical side of things:
- As I understand, Fedimint is distributed only at the cashu level as the federation still requires a SINGLE lightning gateway to function properly. While it is obviously a nice thing to have, I wonder whether this will really make a difference in practice: if we think federations as communities or companies, they might be "distributed" technically, but are still a "single" attackable entity, so what's the difference here from a simpler cashu mint?
- When Fedi open source code? You have money and chat together and expect us to trust a closed source app? I hope the code will be available soon (and with reproducible builds)
So in the end, what I want to say is that unless we get federations composed of different entities that have little to do with each other, like a sort of good "cartel" (so that multiple guardians will actually make sense), fedimint "is only" useful to increase (how much? You still rely on a single LN gateway) the technical difficulty to attack a federation (guardians on geographically distributed nodes, on different cloud provider or datacenter, with different implementations, etc...).
I might have been to harsh here, but this is just my first thought about this, anyway I still like the general fedimint idea.
Published at
2024-08-06 15:33:27Event JSON
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"content": "Some thoughts about Fedimint and Fedi given the recent launch event:\n\nI like the idea behind distributed eCash at least in principle, BUT I still have some doubts on the practical side of things:\n- As I understand, Fedimint is distributed only at the cashu level as the federation still requires a SINGLE lightning gateway to function properly. While it is obviously a nice thing to have, I wonder whether this will really make a difference in practice: if we think federations as communities or companies, they might be \"distributed\" technically, but are still a \"single\" attackable entity, so what's the difference here from a simpler cashu mint?\n- When Fedi open source code? You have money and chat together and expect us to trust a closed source app? I hope the code will be available soon (and with reproducible builds)\n\nSo in the end, what I want to say is that unless we get federations composed of different entities that have little to do with each other, like a sort of good \"cartel\" (so that multiple guardians will actually make sense), fedimint \"is only\" useful to increase (how much? You still rely on a single LN gateway) the technical difficulty to attack a federation (guardians on geographically distributed nodes, on different cloud provider or datacenter, with different implementations, etc...).\n\nI might have been to harsh here, but this is just my first thought about this, anyway I still like the general fedimint idea.",
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