• Fedi, a technology company, is launching a Bitcoin hackathon to celebrate Bitcoin’s 14th birthday, offering 2.1 BTC as the prize.
• This hackathon is open-ended, encouraging developers to build out a Fedimint module that will bring real-world benefits to users.
• Fedimint is an open source custody platform that 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 to celebrate the 14th birthday of the world’s first digital asset and decentralized payment network. The hackathon will offer a prize of 2.1 BTC to the winner and is open-ended, encouraging developers to build out 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. 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.
The hackathon, which is open to the public and free to enter, will allow developers to build out a Fedimint module that will bring real world benefits to users. Fedi has shared some ideas of what those could be, including 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.
The winner of the hackathon will receive 2.1 BTC, while the runner-up will receive 0.7 BTC. All entries will be evaluated based on the impact of the module created, quality of the code, how well the module works, and how well the module is documented.
Obi Nwosu, CEO of Fedi, stated 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 enable peer-to-peer transactions, and we’re excited to give developers the chance to build solutions on top of this technology in a way that has real-world impact.”
The hackathon is a great opportunity for developers to showcase their coding and problem-solving skills. It also serves as a way for the Bitcoin community to celebrate the anniversary of the world’s first digital asset and decentralized payment network.
So if you are a developer looking for an opportunity to build something useful, or if you are a Bitcoin enthusiast who wants to help celebrate the anniversary of Bitcoin in a meaningful way, why not try your hand at the Fedi Bitcoin Hackathon?