• 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, but are incentivized to work on what would drive the most impact.
• Fedimint is an open source custody platform that allows users to store their bitcoin, 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 in celebration of Bitcoin’s 14th birthday. The hackathon will pay out 2.1 BTC to the winner, and is open ended meaning developers can code the functionality they want; but they are incentivized to work on what would drive the most impact. Fedi 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.
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. With the launch of the hackathon, Fedi is hoping to encourage developers to build out a Fedimint module that will help bring real world benefits to users.
Obi Nwosu, Fedi CEO, expressed his enthusiasm for the hackathon, stating “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 revolutionize the way we send and receive value and Fedimint will help to make that a reality. Through this hackathon, we are giving developers the opportunity to create solutions that will help us move towards this future and we can’t wait to see the innovative solutions they create.”
With the hackathon, Fedi is providing developers with a platform to create solutions that will help bring real world benefits to Bitcoin users. The deadline for submissions is April 15th and all submissions will be reviewed by a panel of experts. The winner will be announced on April 22nd and will receive the 2.1 BTC prize.