Federated Chaumian Mints on Lightning - Scaling Bitcoin to 10 Billion People
In this episode of Bitcoin Spaces Live, host P (@phjlljp) is joined by some Lightning network experts (Eric, Casey, and Odell) to discuss Federated Chamian Mints on the Lightning network and how they could help scale Bitcoin to the whole world.
0:00 Introducing Eric, Casey, and Odell’s work and the concept of chamian mints.
5:15 What is means to have a federated chamian mint system. Defining the challenges these systems aim to resolve.
14:28 What is a blind signature and how is it used?
19:17 How and why did the original eCash project (DigiCash) end?
24:29 Clarifying the distinction between blind signatures and chamian mints.
24:46 Why would the current banking system want federated chamian mints?
27:16 Tangible benefits of chamian mints along with some downsides to consider.
29:48 Defining what a federated chamian mint is.
31:30 How do you get from a chamian mint to a federated chamian mint and how does the Lightning network integrate with it?
37:47 How can people get involved in Eric’s work? What should they know?
42:53 When will the pressure to adopt federated chamian mints start?
46:25 How does all of this relate to CoinJoins?
49:41 Is there anticipated negative attention coming for federated chamian mints? How long before they become a regulation target? 56:23 Exploring the community of banking and where mini mints fit in.
57:05 Would it be better to build into the protocol ways to eject members and vote in new ones?
59:10 Shinobi joins! Plus, how to use federated chamian mints to enforce complex smart contracts.
1:03:24 The problem with centralized domain names.
1:07:09 Scaling pressures Lightning is going to face.
1:13:18 Incentivizing the members of the federation: Has requiring time-locked fidelity bonds for members been considered?
1:17:48 Closing remarks and how listeners can get involved with Bitcoin and open source projects.
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