The beneath is a direct excerpt of Marty’s Bent Situation #1266: “A Fedimint signet seems out of the wild.” Join the e-newsletter right here.
Earlier this week, Eric Sirion introduced the official launch of the primary public signet (a testnet) for Fedimint, the open supply protocol that enables folks to simply create their very own Chaumian Mints on prime of the LNP/BP stack. This can be a very thrilling factor to see as a result of it signifies that these constructing out the protocol are making materials progress and a mainnet being prepared for the general public appears to be in sight.
I had the pleasure of taking the signet model for a spin.
Despite the fact that that is solely operating on signet and the functionalities are fairly restricted — you possibly can be a part of a mint, obtain signet ecash tokens that characterize sats and ship these ecash tokens — it was a reasonably magical person expertise. The convenience and velocity with which it took to affix the mint and obtain sats from Sirion’s faucet utilizing the Fluttermint cellular app was fairly stunning. If this expertise will be replicated on mainnet, it is not onerous to see how these federated mints can grow to be well-liked in a comparatively quick period of time.
This was particularly obvious on the receiving aspect of issues. I created a QR bill on my cellphone then had my laptop computer digital camera scan the QR code from the tap web page and the tokens arrived in my pockets virtually instantaneously. Once more, it’s but to be seen if this expertise would be the similar when the protocol is prepared for wider adoption by way of mainnet, however it is a very promising begin for the protocol.
We’ll maintain you freaks posted on how the event of Fedimint progresses.