Tech startup Fedi has raised $17 million to accelerate the adoption of Bitcoin and Lightning. The company's objective is to make digital money easier to use and understand by providing private and scalable federations. In simple terms federations allow the creation of communities consisting of friends, businesses, and any other loosely connected group of people.

The main appeal of Bitcoin is that it allows users to retain control over their assets, but this is difficult for newcomers due to the learning curve. By using federations Fedi seeks to provide users with more security than traditional Bitcoin wallets. This is achieved by distributing control amongst various custodians, rather than just a single entity.

Another advantage of the Fedimint protocol is the privacy it provides. It obscures the information regarding who is part of the federation and how much Bitcoin each custodian holds. Fedi plans to extend their services to more than just cryptocurrency by releasing an Alpha version of their federated operating system that can be utilized for wallets, chats, web browsing, and application execution by the end of the month.

Overall, Fedi's $17 million investment is promising for the future of Bitcoin. The company hopes to make digital currency simpler to understand and use while providing users with more security and privacy. This could definitely be a game-changer in terms of blockchain adoption, although it remains to be seen if Fedi will be able to deliver its ambitious promises.



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