Developers: Win 2.1 BTC in Fedi’s Bitcoin Hackathon!

• 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 developers are incentivized to work on what would drive the most impact.
• 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.

Technology company Fedi is launching a Bitcoin hackathon to mark the 14th birthday of the cryptocurrency. The hackathon will reward the winner with 2.1 BTC. The hackathon offers developers the opportunity to create a Fedimint module that will bring real world benefits to users. Fedimint is an open source custody platform that allows users to store their bitcoin and extend its functionality with privacy, smart contracts, and more.

Developers are free to code any functionality they want, but they are incentivized to work on projects that have the greatest potential impact. Ideas shared by Fedi include modules that 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 platform 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. It also utilizes Federated Chaumian Ecash, allowing users to gain enhanced privacy. In other words, 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.

Fedi CEO Obi Nwosu believes that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. He says, “Bitcoin was created to give people autonomy and freedom to transact with anyone, and Fedimint is the perfect way to do that. We are excited to see what the creative minds of developers come up with in this hackathon.”

The hackathon is a great opportunity for developers to showcase their talents and be rewarded for their creativity. The winner of the hackathon will be awarded 2.1 BTC, with the runner-up receiving 1.5 BTC and the third place finisher getting 0.5 BTC. So, if you’re a developer with ideas on how to make the world of Bitcoin more secure and private, this hackathon is the perfect opportunity to get involved.