Sun. Apr 21st, 2024

• Fedi is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday.
• Fedimint is an open source custody platform that allows users to store their bitcoin, and extend its functionality with privacy, smart contracts, and more.
• Ideation modules proposed include communal savings pool, storing value in a local currency, receiving payments privately via static QR codes or links, and operating a communal vote based spending pool.

Fedi, a technology company focused on building a Fedimint-based community custody platform, is celebrating Bitcoin’s 14th birthday with a special Bitcoin hackathon. The winner of the hackathon will receive a generous prize of 2.1 BTC.

Fedi hopes that this hackathon will encourage developers to build out a Fedimint module that will bring real world benefits to users. This hackathon is open-ended, meaning that developers have the freedom to code the functionality they believe would have the greatest impact. Fedi has proposed some ideas for modules, including 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), and operating a communal vote based spending pool.

Fedimint is an open source custody platform that allows users to store their Bitcoin, as well as extend its functionality 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 Bitcoin in a way that improves the trust and security models inherent in the classic centralized third-party custody solutions. Additionally, Fedimint leverages Federated Chaumian Ecash, which gives users added privacy.

In summary, 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. Obi Nwosu, Fedi CEO, stated that “At Fedi, we believe that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. Bitcoin was created to bring financial freedom to the world, and we are confident that with Fedimint, users will be able to fully realize this.”

Therefore, Fedi is excited to launch this hackathon in celebration of Bitcoin’s 14th birthday, and to see the creative solutions developers come up with to help bring real world benefits to users. Participants should have some coding experience, and will be rewarded with 2.1 BTC for their efforts. Fedi believes that this hackathon will be a great way to help bring Bitcoin’s potential to the world.

By admin