• 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.
• Developers have the opportunity to build out a Fedimint module that will bring real world benefits to users.
• The Fedimint wallet has 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.
Technology company Fedi is celebrating Bitcoin’s 14th anniversary with a special Bitcoin hackathon that will award 2.1 BTC to the winner. Fedi is focused on building a Fedimint-based community custody platform and this hackathon aims to incentivize developers to create modules that bring real world benefits to users.
Fedimint is an open source custody platform that enables users to not only store their bitcoin, but also extend its functionality with privacy, smart contracts, and more. Unlike the traditional centralized third-party custody solutions, this second-party custody system involves trusting family members or friends with the custody of one’s bitcoin in a way that improves the trust and security models. Furthermore, it leverages Federated Chaumian Ecash, which allows users to gain privacy.
The bounty is open ended, meaning that developers have the freedom to code the functionality they want, but they are encouraged to work on modules that bring the most impact, such as a communal savings pool to accumulate bitcoin for a large project, storing value in a local currency like 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.
Fedi’s CEO, Obi Nwosu, commented 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 provide a decentralized, permissionless, and trustless financial system, and Fedimint is the perfect platform to build upon this vision and bring real world benefits to users.”
The hackathon is open to everyone, from experienced developers to those just starting out, and the deadline to submit entries is December 20th. All entries will be reviewed, and the winner will be announced in January 2021. So if you have the skills and the ambition, this is your chance to make a real difference and be rewarded in the process.