• 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 not only store their bitcoin, but also extend the functionality of their bitcoin with privacy, smart contracts, and more.
• The bounty is open ended, meaning that developers can code the functionality they want; but they are, of course, incentivized to work on what would drive the most impact.

Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon in celebration of Bitcoin’s 14th birthday. The hackathon is offering a bounty of 2.1 BTC to the winner as an incentive to developers to build out a Fedimint module that would bring real world benefits to users.

Fedimint is an open source custody platform that allows users to not only store their bitcoin, but also extend the functionality of their bitcoin 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 one’s bitcoin in a way that improves the trust and security models inherent in the classic centralized third-party custody solutions. And it leverages Federated Chaumian Ecash, which means users also gain privacy. In a nutshell, 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.

The bounty for the hackathon is open-ended, meaning that developers can code the functionality they want in order to win the reward. However, they are incentivized to work on what would drive the most impact. Fedi 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.

Obi Nwosu, Fedi CEO, stated: “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 give individuals a powerful tool to take control of their own economic destiny. We are excited to see developers build out innovative applications using Fedimint, leveraging the platform’s powerful privacy and security features.”

The Bitcoin hackathon is a great opportunity for developers to build something meaningful and get rewarded for their work. It also demonstrates Fedi’s commitment to empowering individuals with the tools to take control of their own economic destiny.