The specialists have spoken. Opensats gave a partial verdict and The Human Rights Foundation introduced that Cashu and LNlink will obtain bounties. Certain circumstances apply, as we’ll clarify. And different initiatives and Lightning Network builders would possibly nonetheless declare the final obtainable bounty, the competitors remains to be legitimate till the top of the 12 months. Let’s study concerning the profitable initiatives and discover what the story’s important gamers mentioned concerning the announcement.
Opensats And The Human Rights Foundation Tweet
To be exact, one and a half of the three introduced bounties are locked in. The Human Rights Foundation’s Alex Gladstein tweeted, “LNlink by William Casarin qualifies for the “tip jar” bounty and can obtain the 1 BTC reward.” Also, and that is the place it will get difficult, “Cashu by Calle partially qualifies for the “ecash” bounty and can obtain .5 BTC of the reward.” However, there’s nonetheless time, “If Calle can improve the Cashu design to protect user IP addresses by Dec 31, then he will qualify for the remaining .5 BTC of the reward.”
UPDATE: the @OpenSats board has decided that
1) @lnlinkapp by @jb55 qualifies for the “tip jar” bounty and can obtain the 1 BTC reward
2) @cashubtc by @callebtc partially qualifies for the “ecash” bounty and can obtain .5 BTC of the reward https://t.co/h2C0DxgjCo
— Alex Gladstein ???? ⚡ (@gladstein) October 28, 2022
Controversially, Gladstein and Opensats additionally introduced that “to date, no submissions for the “stable Bitcoin” bounty have certified.” When we first wrote about the bounties, we described the immediate as: “The HRF and Strike want a wallet that enables “anyone to “peg” an quantity of bitcoin to U.S. {dollars} while not having an change or one other token.” That’s proper, with out a centralized entity. And relying solely on sats and bitcoin.”
Did Galoy submit their Stablesats solution? And what about Kollider Synthetic Stablecoins? Did Opensats not approve of the best way they achieved the peg to the greenback or did the establishments simply not take part?
Proud of this, recognize @strike for funding the bounties, @hrf for setting it up, and our staff at @opensats for processing them.
Grateful to @jb55 and @callebtc for his or her open supply contributions, the FOSS motion grows stronger each day, and we’re simply getting began! https://t.co/orTVkkMng1
— ODELL (@ODELL) October 29, 2022
In any case, Opensats’ Matt Odell commented on the outcomes. “Proud of this, appreciate Strike for funding the bounties, HRF for setting it up, and our team at Opensats for processing them. Grateful to William Casarin and Calle for their open source contributions, the FOSS movement grows stronger every day, and we are just getting started!”
What Do We Know About LNlink?
What did Opensats see in LNlink? We summarized the immediate as, “Can you create a Lightning tip jar that doesn’t reveal any information about the parties involved? That’s the first task. How to receive completely anonymous donations.” In his submission to Opensats, William Casarin claims to have solved the puzzle by doing this:
“I’ve created a non-custodial iOS lightning pockets referred to as LNLink that may hook up with a c-lightning node from anyplace to ship and obtain lightning funds. LNLink is totally free and opensource (FOSS). It can:
* Generate bolt12 invoices
* Generate bolt11 invoices
* Pay bolt12 invoices
* Pay bolt11 invoices
* Pay lnurls
* Pay lnaddresses”
The project’s website places the identical info in a extra direct manner, “LNLink (lightninglink) is an iOS application that allows you to control a c-lightning node over the lightning network itself. This means that you can connect directly to your c-lightning node to control it. No additional software, VPNs, or Tor is needed for remote access.”
The undertaking’s creator, William Casarin tweeted, “WHOA WHAT. time to make LNlink even better now. My mind is blown.”
BTC value chart for 11/01/2022 on Bitstamp | Source: BTC/USD on TradingView.com
What Do We Know About Cashu?
The immediate mentioned one thing alongside the strains of, “The third bounty has to do with e-cash. It “aims to tackle a need for transactional privacy through a Chaumian e-cash arrangement to enable anonymous bitcoin usage for users.” In a very simple explanatory thread, the corporate explains: “Cashu makes Bitcoin custody more private. You don’t have an account with the mint, it doesn’t know your balance or who you’re transacting with. You hold your own tokens.”
The manner it really works it by a cryptographic scheme referred to as blind signatures first described by cypherpunk and cryptographer David Chaum.
Think of it like this: you produce a secret message and wrap it into an envelope made from carbon paper that you simply then ship to the mint. pic.twitter.com/5zkdCvsHVO
— Cashu (@CashuBTC) September 25, 2022
When requested if this was a custodial service, Calle responded, “All ecash designs I’m aware of are custodial (on a Bitcoin level, with varying degrees of distributing trust) while the ecash tokens you hold are under your own control.” When notified of the win, the developer tweeted, “Wow, this caught me off-guard yesterday night. Thank you to the Opensats board, you’re doing incredible work supporting devs. The world needs more like you.”
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