fedi

ChainCatcher news, Fedi CEO Obi Nwosu stated in an interview, "Bitcoin will prevail in 2023, and the set of technologies needed to provide a cohesive vision for Bitcoin will emerge in 2023." (source link)

ChainCatcher message, the developer of the decentralized social protocol Nostr, fiatjaf, stated in a blog post that he suggests using Spacechains and Fedimint (a Bitcoin custodial open-source protocol) to address the Bitcoin scalability issue. According to fiatjaf's proposal, the following can be done without attempting to create complex "layer 2" setups involving new cryptographic technologies:Adopt the Fedimint source code and remove the "mint" feature, only using their secure Token with multisig and federation features;Then create a Spacechains;Allow the federation to issue multisig-btc Tokens on Spacechains;Set up facilities similar to Uniswap on it, allowing these Tokens to be freely traded.fiatjaf explained the reason for proposing this idea: "The recent surge in fees caused by Ordinals and BRC-20 Tokens indicates that the Lightning Network is not a panacea. The channels are too fragile, and the costs of opening channels and running routing nodes in a high-fee environment are very high. Those who want to continue using the Lightning Network are turning to large Lightning Network custodial providers: WalletofSatoshi, ZEBEDEE, OpenNode, and so on. We can leverage people's trust in these companies (and individuals) operating Lightning Network providers, turning each of them into a Bitcoin token issuer. Each company issues its own Token, and trading flows freely. Everyone can only hold assets from the issuers they trust more." (source link)

ChainCatcher news, financial and data technology developer Fedi has completed a $17 million Series A funding round, led by Ego Death Capital, with participation from Block's Bitcoin subsidiary TBD, Kingsway, Trammell Venture Partners, and Timechain. Fedi will pre-release an Alpha version for developers later this month.According to RootData data, Fedi completed a $4.2 million seed funding round in July last year, during which Fedi was developing the Fedi wallet mobile application based on the Bitcoin custody protocol Fedimint. The primary goal is to overcome the three biggest barriers to Bitcoin adoption today: lack of secure custody, privacy, and scalability, all of which are addressed by the open-source Fedimint Bitcoin custody protocol. (Source link)