Celebrate Bitcoin’s 14th Birthday with Fedi’s 2.1 BTC Hackathon!

• Fedi, a technology company, is hosting a Bitcoin hackathon to celebrate Bitcoin’s 14th birthday.
• The winner of the hackathon will receive 2.1 BTC as a reward.
• Developers are encouraged to build a Fedimint module that can provide users with real world benefits such as communal savings, private payments, and vote-based spending.

Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon to celebrate Bitcoin’s 14th birthday. The hackathon is offering a bounty of 2.1 BTC to the winner. The company is encouraging developers to build 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 as well as extend its functionality with privacy, smart contracts, and more. This 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. Additionally, this platform leverages Federated Chaumian Ecash, which provides users with privacy.

In order to incentivize developers to work on the Fedimint module, Fedi has suggested some ideas of what those could be. These include 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 potential of the Fedimint wallet is significant and could provide Bitcoin users with an enhanced level of trust and security that is beyond what third-party custody setups are able to offer. Additionally, the Fedimint wallet could provide users with more ease of use than traditional self-custody solutions.

Obi Nwosu, CEO of Fedi, expressed his enthusiasm for the project in a statement sent to Bitcoin Magazine. He said, “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 provide us with an alternative to traditional financial systems, and Fedimint is an extension of that mission. We are thrilled to be hosting this hackathon to celebrate Bitcoin’s 14th birthday, and we look forward to seeing the amazing things developers create with Fedimint.”

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