231 sats \ 1 reply \ @Merlin 22 Jan 2023 \ on: What is Layer 3? bitcoin
I think stuff like fediments are layer 3
Fedimint is depends directly on layer 1 so it is a type of layer 2. The guarantees are weaker, mints can abscond with your tokens, whereas it's a much tighter competition with LN channels and much harder to cheat the protocol.
I can see some of the reason behind it but one of the core assumptions of the design is that network connectivity need not be operational to validate a payment, only cached keys. I think there's something a little pessimistic in this view and unrealistic considering you can literally have an internet connection to anywhere on the planet without anything but a modem.
reply