• 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 whatever functionality they think will have the most impact. Ideas include modules that would enable a communal savings pool, store value in a local currency, receive payments privately, and operate a communal vote-based spending pool.
• Fedimint is an open source custody platform 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.
Fedi, a technology company that is focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday. This bounty is open ended, meaning developers can code whatever functionality they think will have 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.
At the heart of Fedi’s hackathon is the Fedimint open source custody platform. Fedimint 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. This means users also gain privacy, as 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 Fedimint platform has been designed to open up a world of possibilities for users to extend the functionality of their bitcoin with privacy, smart contracts, and more. The company believes that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. With this in mind, the hackathon is an opportunity for developers to come up with creative ways of leveraging the platform to bring real world benefits to users.
The winning developer will receive a grand prize of 2.1 BTC, and there are also runner-up prizes available. However, it is not just the rewards that make this hackathon worth participating in. It is also an opportunity for developers to contribute to the development of Fedimint, and to help make the platform even better. So, if you are a developer and want to get involved, head to the Fedi website and make sure you enter the hackathon before the deadline.