• Fedi, a technology company, is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday.
• The bounty is open-ended, meaning developers can code the functionality they want.
• Fedimint, an open source custody platform, allows users to store their Bitcoin and extend its functionality with privacy, smart contracts, and more.
Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon in celebration of Bitcoin’s 14th birthday. The hackathon encourages developers to build out a Fedimint module that will bring real world benefits to users and will pay out 2.1 BTC to the winner.
The bounty is open ended, meaning that developers are free to code the functionality they want; however, they are incentivized to work on what would drive the most impact. Fedi has suggested some ideas of what those could be, such as modules that would enable a communal savings pool to accumulate Bitcoin for a large project, storing value in a local currency such as dollars, receiving payments privately via static QR codes or links (similar to CLN’s BOLT 12 offers), or operating a communal vote based spending pool.
Fedimint is an open source custody platform that allows users to not only store their Bitcoin, but also extend the functionality of their Bitcoin with privacy, smart contracts, and more. It is based on the concept of second-party custody, which involves trusting family members or friends with the custody of one’s Bitcoin in a way that improves the trust and security models inherent in the classic centralized third-party custody solutions.
Fedimint also leverages Federated Chaumian Ecash, which means users gain increased privacy. In a nutshell, Fedimint wallets have the potential to bring strong privacy to Bitcoin users with better security than third-party custody setups and more ease of use than fully-fledged self-custody solutions.
Obi Nwosu, Fedi CEO, expressed his belief in the potential of Fedimint in a statement sent to Bitcoin Magazine: “At Fedi, we believe that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. Bitcoin was created to empower individuals to take back control of their money and data and we are excited to provide the tools to do just that.”
The Bitcoin hackathon is a great opportunity for developers to get involved in the Bitcoin ecosystem and have a chance to win 2.1 BTC. Developers are encouraged to apply their skills and creativity to create a Fedimint module that will bring real world benefits to users. With the power of Fedimint, developers can create solutions that will improve the security, privacy, and functionality of Bitcoin for users around the world.