Federated Chaumian Mints Provide A Way For Bitcoin Users To Distribute Trust
FediMint could provide the Bitcoin stack with an open source, distributed, censorship resistant custody layer for less technical Bitcoin users.The below is a direct excerpt of Marty's Bent Issue #1193: "I am very bullish on Chaumian Mints." Sign up for the newsletter here. An example of how the FediMint protocol works. We've talked about Chaumian Mints in this rag before in the past, specifically MiniMint (built on the FediMint protocol), and expressed how bullish we are on the concept and the benefits it could bring Bitcoiners in terms of privacy and scalability. Well, we meet here....
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If this user experience can be replicated on mainnet, it is easy to see how federated Chaumian Mints can quickly become popular for widespread use.
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Federated sidechains utilize key management to provide security and allow functionality beyond the Bitcoin mainchain.