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

The underneath is a right away 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 now been covering the development of FediMint in Marty’s Bent for somewhat over a yr now. FediMint is an open-source protocol that permits teams of people to create federated Chaumian Mints on Bitcoin. When folks ship bitcoin to those federated mints they obtain Ecash tokens that constitute other denominations of sats. In go back, they may be able to then ship those throughout the mint to different customers with a top level of privateness. As soon as customers are within the federation and transacting with Ecash tokens, federation contributors have no idea who’s transacting with whom. This can be a very inventive approach to give finish customers higher privateness whilst growing an atmosphere by which bitcoin can scale to billions of other folks.

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