“Bitcoin is for billions, not billionaires.” fedimint is a community custody protocol that wants to prove that through scaling the Bitcoin network to a billion users located in the global south. (Reporting via JoeNakamoto)
The protocol that aims to scale Bitcoin while making it more private has been buoyed by a $4.2 million seed round for the Fedi application.
In brief, the Fedi wallet app connects users to Fedimint “federations.” The Fedimint protocol uses multi-signature technology and trusted community members called guardians.Nwosu told Cointelegraph that Fedi hopes to have the biggest impact on those located in the global south and that the firm is “uniquely placed to help which is why we will put special focus on deploying into these communities.”
“Fedimint solves a lot of our problems in one system. It offers us an extra layer of security to keep bitcoin purchase and ownership totally decentralized, anonymous and offers an extra layer of ownership.” Fedimint uses this community-backed approach to finance but uses a decentralized immutable currency i.e., Bitcoin. “In addition, Fedimint adds an extra layer of security and more importantly privacy as the custodians can keep the amount they own totally private from others,” Nabourema highlights.located in the populous West African city of Dakar — told Cointelegraph that Fedimint’s community-backed approach is a reflection of how certain Bitcoin enthusiasts run nodes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTC miners ‘finally capitulating’ — 5 things to know in Bitcoin this weekBitcoin rebounds strongly off the weekly close, but for BTC miners, it may be a case of “too little too late.” Will we see Bitcoin at $23K this week?
Read more »
Bitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets – Bitcoin NewsThe number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately 102,045 bitcoins.
Read more »
Bitcoin ‘will be part of everyone’s portfolio’, says former Blackrock executiveFormer Blackrock Executive and investment adviser Edward Dowd has stressed that despite the recent crypto market turmoil, Bitcoin is here... Continue reading
Read more »
Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?Traders are afraid that Bitcoin miners selling their reserves could trigger a “death spiral” in BTC price, but ArthurMining and noshitcoins say many operators are profitable despite the strength of the current crypto winter.
Read more »
Jed McCaleb Earned Billions of Dollars from His XRP Holdings, With Most of Them Coming After SEC Lawsuit: DetailsMost of McCaleb's XRP holdings were sold after SEC lawsuit against Ripple, here are the details xrpsec xrparmy xrpthestandard
Read more »
Bitcoin Saw Largest Transfer Volumes on These Two Events: ImplicationsBitcoin records highest transfer volumes on these two occasions BTC Cryptocurrency
Read more »