• Fedi is launching a Bitcoin hackathon with a 2.1 BTC prize in celebration of Bitcoin’s 14th birthday
• Developers are encouraged 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 celebrating Bitcoin’s 14th birthday in a big way by launching a Bitcoin hackathon with a prize of 2.1 BTC up for grabs. The hackathon is open-ended, so developers can create the functionality they want, but they will be incentivized to build something that will have the most impact. Some potential modules that could be created include allowing for a communal savings pool to accumulate bitcoin for large projects, storing value in a local currency like dollars, and receiving payments privately via static QR codes or links.
Fedimint is an open source custody platform that allows users to store their bitcoin and extend its functionality 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 classic centralized third-party custody solutions. Utilizing Federated Chaumian Ecash, users also gain privacy. Fedimint wallets are designed 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.
With the launch of this hackathon, Fedi is hoping to encourage developers to create innovative modules that can bring a wide range of benefits to Bitcoin users. This could include creating modules that would enable a communal savings pool, storing value in a local currency, receiving payments privately, or operating a communal vote based spending pool. The possibilities are endless, and it is up to developers to create something that can truly make a difference.
Obi Nwosu, Fedi CEO, expressed his excitement for the hackathon in a statement, saying “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 push the boundaries of what’s possible on the web, and we’re excited to see what developers will create with the Fedimint platform.”
The hackathon is open to anyone, regardless of experience or skill level. Fedi is hoping to see submissions from developers all over the world, as they believe that there are no limits to the amount of innovation that can come from this event. The winner of the hackathon will receive the 2.1 BTC prize as well as the recognition for having created something truly revolutionary. So if you think you have what it takes to create the next big Fedimint module, make sure to enter the Bitcoin hackathon from Fedi and show the world your skills.