Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

Sign up for GitHub

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Update eCashToken.md #65

Merged
merged 1 commit into from
Feb 11, 2025
Merged

Update eCashToken.md #65

Changes from all commits
Commits
Show all changes
1 commit
Select commit
File filter

Filter by extension

Filter by extension
Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
4 changes: 2 additions & 2 deletions docs/CommonTerms/eCashToken.md
View file
Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -16,10 +16,10 @@ These terms have been chosen to represent the fact that the circulating currency

In reality the eCash tokens are claims against the bitcoin that is held in a multi-signature vault by the federation guardians. See [What is a Fedimint](/docs/GettingStarted/What-is-a-Fedimint).

The fm-BTC therefore is a means of the federation keeping track of the outstanding claims for the bitcoin which is held.
The fm-BTC, therefore, is a means for the federation to keep track of the outstanding claims on the bitcoin it holds.

These claims are not cryptographically enforced, but instead rely on honest federation guardians to honor the withdrawals.

---

[^1] On-chain referring to bitcoin that is unencumbered on the bitcoin time chain with the private keys controlled by the user.
[^1] On-chain referring to bitcoin that is unencumbered on the bitcoin time chain with the private keys controlled by the user.