• Fedi, a technology company, is hosting a Bitcoin hackathon with a 2.1 BTC prize for the winner.
• The hackathon encourages developers to build out a Fedimint module that will bring real world benefits to users.
• Fedimint is an open source custody platform that provides improved security, trust, and privacy for Bitcoin users.
Fedi, a technology company focused on creating a community-based custody platform, is hosting a Bitcoin hackathon to celebrate the 14th anniversary of Bitcoin. The hackathon will award the winner with 2.1 BTC, and is open-ended, allowing developers to code the functionality they want.
The hackathon’s goal is to encourage developers to create a Fedimint module that can bring real world benefits to users. Ideas of what those could be include modules that enable communal savings pools to accumulate Bitcoin, store value in a local currency, receive payments privately via static QR codes or links, and operate a communal vote based spending pool.
Fedimint is an open source custody platform that provides improved trust, security, and privacy for Bitcoin users. 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 classic centralized third-party custody solutions. It leverages Federated Chaumian Ecash, which provides users with privacy.
The founders of Fedi are optimistic about the potential of Fedimint. Obi Nwosu, Fedi CEO, believes that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. He goes on to say that Bitcoin was created to give people the ability to control their own money, and Fedimint is aiming to make that easier to do.
The Bitcoin hackathon will be a great way for developers to come together and create innovative applications that will improve the way people can use Bitcoin for real-world benefits. With the prize of 2.1 BTC, it’s sure to draw in top-tier developers from all over the world.