The under is a direct excerpt of Marty’s Bent Issue #1193: “I am very bullish on Chaumian Mints.” Sign up for the newsletter here.
An instance of how the FediMint protocol works.
We’ve talked about Chaumian Mints on this rag earlier than up to now, particularly MiniMint (constructed on the FediMint protocol), and expressed how bullish we are on the idea and the advantages it may convey Bitcoiners by way of privateness and scalability. Well, we meet right here on this darkish nook of the web once more to reiterate our bullishness on the challenge and to present you freaks with an replace from the individuals 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 supplies an open supply, distributed, censorship resistant, retailer of worth settlement layer. The Lightning Network supplies a second layer, distributed, censorship resistant funds layer. FediMint, if profitable, may 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 neighborhood to create a multisignature federation to course of transactions for much less technically competent neighborhood members. Federation members do not know who is coming into or leaving their mint and they cannot inform who is transacting inside it. Making it unimaginable to goal and censor particular people leveraging a mint. These are however a couple of of the advantages that include Chaumian Mints.
I extremely advocate 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.
