The beneath is a direct excerpt of Marty’s Bent Issue #1193: “I am very bullish on Chaumian Mints.” Sign up for the newsletter here.
We’ve talked about Chaumian Mints on this rag earlier than previously, particularly MiniMint (constructed on the FediMint protocol), and expressed how bullish we’re on the idea and the advantages it may carry 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 mission and to offer 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 offers an open supply, distributed, censorship resistant, retailer of worth settlement layer. The Lightning Network offers 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 simple 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 getting into or leaving their mint they usually cannot inform who’s transacting inside it. Making it inconceivable to focus on and censor particular people leveraging a mint. These are however a number of of the advantages that include Chaumian Mints.
I extremely suggest you freaks try 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.
https://bitcoinmagazine.com/technical/chaumian-mints-distribute-trust-among-bitcoin-users
