• Fedi, a technology company, is launching a Bitcoin hackathon with a prize of 2.1 BTC to celebrate Bitcoin’s 14th birthday.
• Developers are encouraged to build out a Fedimint module to bring real world benefits to users.
• Fedimint wallets have the potential to bring strong privacy to Bitcoin users with better security than third-party custody solutions and more ease of use than fully-fledged self-custody solutions.
Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon to celebrate Bitcoin’s 14th birthday. The hackathon will offer a prize of 2.1 BTC to the winner, with the goal of encouraging developers to build out a Fedimint module to bring real world benefits to users.
Fedimint is an open source custody platform that aims to improve the trust and security models of classic centralized third-party custody solutions. It is based on the concept of second-party custody, which involves trusting family members or friends with the custody of one’s bitcoin. Fedimint wallets leverage Federated Chaumian Ecash, which means users also gain privacy and can extend the functionality of their bitcoin with privacy, smart contracts, and more.
The bounty for the hackathon is open ended, meaning developers can code the functionality they want. Potential ideas 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.
Obi Nwosu, Fedi CEO, said in a statement, “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 an alternative to the traditional financial system and we believe Fedimint will be a great way to extend the privacy, security and trust that Bitcoin offers to everyday users.”
The hackathon is a great way to celebrate Bitcoin’s 14th birthday and to incentivize developers to create real world solutions that could benefit users. The deadline for the hackathon is yet to be announced, so developers interested in participating should keep an eye out for updates.