The under is a direct excerpt of Marty’s Bent Problem #1193: “I’m very bullish on Chaumian Mints.” Join the publication right here.
An instance of how the FediMint protocol works.
We have talked about Chaumian Mints on this rag earlier than up to now, particularly MiniMint (constructed on the FediMint protocol), and expressed how bullish we’re on the idea and the advantages it might carry Bitcoiners when it comes to privateness and scalability. Properly, we meet right here on this darkish nook of the web once more to reiterate our bullishness on the venture and to supply you freaks with an replace from the folks engaged on the protocol.
Above is a timestamped YouTube video that begins with a keynote speech from Obi Nwosu describing why he believes that FediMint can present the Bitcoin open supply ecosystem with the lacking third pillar of the decentralized stack: custody. The Bitcoin base layer gives an open supply, distributed, censorship resistant, retailer of worth settlement layer. The Lightning Community gives a second layer, distributed, censorship resistant funds layer. FediMint, if profitable, might present the stack with an open supply, distributed, censorship resistant custody layer.
FediMint achieves this by making a Chaumian Mint that makes it straightforward for competent technical leaders in a given group to create a multisignature federation to course of transactions for much less technically competent group members. Federation members do not know who’s coming into or leaving their mint and so they cannot inform who’s transacting inside it. Making it inconceivable to focus on and censor particular people leveraging a mint. These are however a couple of of the advantages that include Chaumian Mints.
I extremely suggest you freaks take a look at Obi’s discuss and the panel with Eric Sirion and Casey Rodarmor led by Aaron van Wirdum that follows. Very excessive sign over the course of forty minutes.
