BR031 Cashu & Fedimint: ecash, Bitcoin's layer 3 & scalability ft. Calle, E Sirion, Rijndael & Odell
Bitcoin.Review Podcast with NVK & Guests
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The Differences Between Bitcoin and E-Cash
In Bitcoin, you hold keys and then you make transactions. With e-cash, it's very different from this... From this setup, what you actually hold are digital pieces of data that represent the money itself. It's not a key to the money, but it is the money in the system. And when you want to pay someone, you take a little bit of that data and you send it over the wire to someone else. Then they receive it by sending it once to the mint, destroying it and getting a new one. That is how you prevent the double spend, basically.
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