1) Why? What's the core value?
2) Could there be an atomic swap involving Webcash? Since the settlement happens based on the centralized server, it seems close to impossible to me.
1) it isn’t decentralized but pretending to be decentralized (see Ethereum)…because Webcash is centralized, scalability is far easier…all the other shitcoins pretend to be decentralized and offer “features” that are fundamentally incompatible with decentralization. But if those shitcoins would just give up the pretense of decentralization, they could scale far better.
2) not “on chain,” so to speak. I’d think of it more like trying to atomically swap (knowledge of) telephone numbers…I’m sure there is some way to do it, but you’d need to roll your own solution for it.
There are a number of details that are unclear to me regarding auditability/verifiability…but kanzure ain’t dumb…so I presume there is some preservation of key features of bitcoin…
But having been fairly near to the beginning of bitcoin and not coming out unbelievably wealthy, I’ve learned to act before fully grokking details. That said, this feels an awful lot like early bitcoin to me.
Will this compete with Bitcoin? No, of course not—it isn’t decentralized. But then again, neither is Ethereum. While I personally feel Ethereum is of no value, sacrificing both decentralization & auditability, my feelings are clearly contradicted by the non-zero market cap of Ethereum. Webcash is the logical optimization of a shitcoin trying to solve the money problem (to the extent I understand webcash).