Hi
I have a simple idea for a small project. Physical form of bitcoin on LN.
It's like bank notes on lightning so I call it Lotes
There are already similar projects working on first layer:
-
Tangem - already extended to shitcoins and lot of unrelated features
-
Opendime - bit nerdy OG solution. One piece costs circa 130Â 000 sats
-
Offline cash - testing phase → I paid for one note circa 85 000 sats
-
One NFC tag cost on the other hand circa 180Â sats only
Idea
The proposal is to pass LNURLw to each other using a physical chip. Each new holder just loads the chip onto the mobile phone and thus
- Checks that the value is actually on it
- He transfers the funds to his node (so that no previous holder can take it)
- Uploads a new code to the chip to use it again in the physical world.
The advantage is that verification does not have to be done by every user. Some people may trust that the promised amount is indeed loaded on the chip. This allows people with an aversion to new applications to accept bitcoin without some complication (in exchange for risk)
I have kicked off this simple repo. But I have almost zero coding experience. So far I think will need following knowledge or lot of time & energy:
- React Native
- LNbits
- NFC - understanding the HW and probably this library
Next step
Build prototype of this validating app.
- Is this interesting to any of you?
- Or do you know about anyone?
I can offer some bounty if that helps.