teemupleb on Nostr: Fedimint is an open-source protocol aimed at scaling #Bitcoin using a federated ...

Fedimint is an open-source protocol aimed at scaling #Bitcoin using a federated Chaumian e-cash system, where "guardians" manage users' bitcoins in a multisig wallet, issuing e-cash for use within or between federations via Lightning Network.

It offers privacy and reduces reliance on centralized third parties but introduces risks like potential collusion among guardians.

Fedimint is designed for those who cannot afford individual Lightning channels, promoting community-based trust over traditional custodianship.

Read more here:

https://stacker.news/items/737731/r/teemupleb

#fedimint #ecash #opensource #multisig #privacy #community #rugpull #BitcoinAdoption #lightning #LightningNetwork #DecentralizedFinance #DeFi #BitcoinCustody #BitcoinTechnology #plebchain #grownostr #zap #btc #zaps #freedom #satoshi