• Fedi is launching a Bitcoin hackathon with a 2.1 BTC prize for the winner.
• The hackathon encourages developers to build a Fedimint module that will bring real world benefits to users.
• 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.
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 winner of the hackathon will receive a 2.1 BTC prize.
Fedi is encouraging developers to create a Fedimint module that will bring real world benefits to users. The bounty is open ended, meaning that developers can code the functionality they want, with the focus on creating solutions that will drive the most impact. Possible ideas include modules that enable a communal savings pool to accumulate bitcoin for a large project, storing value in a local currency like dollars, or receiving payments privately via static QR codes or links.
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. And it leverages Federated Chaumian Ecash, which gives users the privacy they need. In short, 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, stated that “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 provide a trust-minimized economy and we believe that Fedimint can help to realize that vision.”
The hackathon is an exciting opportunity for developers to create innovative solutions using Fedimint, while being rewarded with Bitcoin. It is a great opportunity to learn more about the capabilities of Fedimint, and a chance to make a real difference for Bitcoin users.