11 sats \ 0 replies \ @0260378aef 2 Jun 2022 \ parent \ on: A List of Proposed Bitcoin Privacy Improvements | sethforprivacy.com bitcoin
Yes, LN is far more complex. But it is not custodial, so it's not somehow irrational to treat it entirely differently to fedimint or federated sidechains.
There's relevant history that I think people are overlooking.
Do people remember OT (Open Transactions) or even earlier pre-bitcoin implementations like Truledger, Loom? When I asked elsirion at the El Salvador conference he hadn't heard of OT.
Honestly I don't bring that up as a dig against people, it's more to me important to try to learn: what is it about these constructions that somehow hasn't gained traction in past iterations, even if on paper the properties they offered are very attractive? The natural conclusion is: ruthless removal of central points of failure is the key thing, and federation generally doesn't cut it, unless we can find some new twist.