• Fedi, a technology company, is launching a Bitcoin hackathon with a 2.1 BTC prize in celebration of Bitcoin’s 14th birthday.
• The bounty is open ended, encouraging developers to build a Fedimint module that would bring real world benefits to users.
• Fedimint is an open source custody platform that provides users with enhanced security and privacy features.
Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon to celebrate the 14th anniversary of the world’s first cryptocurrency. The hackathon will have a prize pool of 2.1 BTC, and the winner will be the one who develops the most impactful Fedimint module.
Fedimint is a custody platform that allows users to store their bitcoin with enhanced security and privacy. 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. The platform leverages Federated Chaumian Ecash, which means users also gain privacy.
The hackathon is open ended, meaning that developers can code the functionality they want; however, 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.
The winner of the hackathon will be selected by a panel of judges, which includes members of the Fedi team as well as industry experts. The judges will evaluate each submission based on its potential impact, usability, scalability, and robustness.
With the launch of this hackathon, Fedi hopes to encourage developers to build out a Fedimint module that will help bring real world benefits to users. Through this initiative, the company also hopes to raise awareness of the platform and its capabilities, as well as to demonstrate the potential of Bitcoin and other digital assets.