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I meant to say it is not a major economy, so thank you for not being pedantic on that point. But, can you give me a source on how their transactions are being
by gunshai 5y ago
I meant to say it is not a major economy, so thank you for not being pedantic on that point.
But, can you give me a source on how their transactions are being processed off chain. I know that they use a government backed wallet. It was my understanding that any transactions handled in this way eventually have to be settled back into the main chain.
- rank0 5y ago> It was my understanding that any transactions handled in this way eventually have to be settled back into the main chain. I'm unaware of the exact details, but the govt approved wallet uses a proprietary payment processing system in addition to the LN. Yes eventually in theory those transactions should make it back to the main chain when tokens exit the system (requiring El Salvador's permission). At any rate, we've gone in a big circle and reinvented settlement banking on top of bitcoin.