• Fedi 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 and encourages developers to build out a Fedimint module that will help 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 anniversary with a Bitcoin hackathon that will pay out 2.1 BTC to the winner. The bounty is open ended, meaning that developers can code the functionality they want, but they are incentivized to work on what would drive the most impact. 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.
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.
In order to incentivize developers to build out a Fedimint module that will help bring real world benefits to users, Fedi has launched a Bitcoin hackathon that will pay out 2.1 BTC to the winner. Developers are free to code whatever functionality they want, but they are encouraged to focus on what would drive the most impact. Ideas that have been suggested 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.
The goal of this hackathon is to encourage the development of projects that leverage the capabilities of Fedimint, while also providing real world benefits to users. By incentivizing developers to build out projects that are both practical and secure, Fedi hopes to not only create a safer digital economy but also to make Bitcoin more accessible to everyone. The hackathon is open to anyone and everyone, so if you’re a developer or just have an idea for a project, this is your opportunity to make your mark on Bitcoin’s 14th birthday.