Fedi Launches Hackathon to Celebrate Bitcoin’s 14th birthday with 2.5 BTC Prize

Fedi is teaming up with Epoch to reward 2.54 bitcoin in a hackathon that aims to boost its Fedimint-based community custody and privacy platform.Author:NamciosPublish date:Jan 3, 2023Fedi is teaming up with Epoch to reward 2.54 bitcoin in a hackathon that aims to boost its Fedimint-based community custody and privacy platform.Technology company Fedi is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday.Fedi, which is focused on building a Fedimint-based community custody platform, wants to encourage developers to build out a Fedimint module that will help bring real world benefits to users. The bounty is unlimited, so developers can code whatever functionality they like, but they are incentivized by Epoch to focus on the best impact. Fedi shared some ideas, including modules that could allow a community to save bitcoin for large projects, receive payments via static QR codes or links (similarly to CLN’s BOLT12 offers), and even create a collective savings pool. Fedimint is an open-source custody platform that allows users not only to store their bitcoin but also extend its functionality with smart contracts, privacy, and other features. It is based upon the concept of second party custody. This involves trusting friends and family with the custody of bitcoin. This improves the security and trust models inherent in traditional centralized third-party custody options. It also leverages Federated Chaumian Ecash which allows users to gain privacy. Fedimint wallets can provide strong privacy for Bitcoin users, with better security than third party custody setups and greater ease of use than fully-fledged Self-Custody solutions. Fedimint is the ideal platform for the delivery consensus-based applications on a global scale,” Obi Nwosu (CEO of Fedi), stated in a statement to Bitcoin Magazine. “Bitcoin was designed to be peer-to-peer sound currency with full privacy. That’s what we want everyone to have. We are excited to see what Fedimints can accomplish and what ideas there may be to expand Fedimints to address real world problems with bitcoin. “Fedi launched the hackathon in collaboration to Epoch, an upcoming capital provider of Bitcoin projects with the goal of supporting layer 2 and 3. Winners will be announced within five working days of the submission deadline — January 31, 20,23. First place will receive 210 million Satoshis (2.1 BTC), and a commitment that they will support their Fedi module. Two runners up will each receive 21 million Satoshis, while three honorable mentions will each get 2.1 million. Project submissions can be done through this form.Tagsterms:HackathonPrivacyFedimintFedibitcoin developmentBitcoin Custody

 

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