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HomeCrypto EducationIncreasing Bitcoin Custody Fashions With FediMint

Increasing Bitcoin Custody Fashions With FediMint

Disclaimer: The writer is a enterprise accomplice at Ten31, which co-led Fedi’s seed spherical.

The beneath is a direct excerpt of Marty’s Bent Issue #1241: “Fedi is here to bring a consumer app building on FediMint.” Sign up for the newsletter here.

We have been covering the development of FediMint in Marty’s Bent for a bit over a 12 months now. FediMint is an open-source protocol that permits teams of people to create federated Chaumian Mints on Bitcoin. When people ship bitcoin to those federated mints they obtain Ecash tokens that characterize totally different denominations of sats. In return, they’ll then ship these throughout the mint to different customers with a excessive diploma of privateness. As soon as customers are contained in the federation and transacting with Ecash tokens, federation members have no idea who’s transacting with whom. This can be a very inventive technique to give finish customers higher privateness whereas creating an surroundings during which bitcoin can scale to billions of individuals.

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