• 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, and Fedi has suggested modules that would enable a communal savings pool, storing value in a local currency, receiving payments privately, and operating a communal vote based spending pool.
• Fedimint is an open source custody platform that allows users to store their bitcoin and extend the 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 with a bounty of 2.1 BTC for the winner. This celebration of Bitcoin’s 14th birthday is an opportunity for developers to build out a Fedimint module that will bring real world benefits to users.
The hackathon is open ended, meaning developers can code the functionality they want; however, Fedi has suggested some ideas of what those could be. These include modules that would enable 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.
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 means users also gain 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. According to Obi Nwosu, Fedi CEO, “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 and to enable them to transact with each other without relying on third parties. Fedimint is a tool to help do just that.”
The Bitcoin hackathon is a great opportunity for developers to get involved in bringing new features and functionality to the Fedimint platform. The bounty is open ended and the possibilities for what can be created are endless. And with the added bonus of 2.1 BTC for the winner, it’s sure to be an exciting event. So if you’re a developer, don’t miss out on this chance to join the Fedimint revolution and help bring real world benefits to users.