Blockstack, the network for decentralized applications has collaborated with Shapeshift, the leading digital asset exchange to offer a bounty of $50,000 to a developer or a team to build a decentralized universal wallet.
As a part of its Signature Bounties Campaign, Blockchain has recently accounced a new bounty offer to individuals or teams who can develop a creative universal wallet. The contest began on April 25, 2018, at 9:00 a.m. EST and will run until 11:59 p.m. on June 25, 2018. Blockchain’s decision to join hands with the peer-to-peer exchange, Shapeshift is with the aim of stimulating collaborative innovation in the cryptocurreny world.
As per a blog post by Blockstack, “Increased interoperability and collaboration between projects will only hasten the pace of innovation — and making each project’s atomic unit of value accessible across communities is critical. That’s why we are partnering with ShapeShift to enable an open source wallet where users can hold and exchange most, if not all current and future forms of tokens, all in a decentralized manner.”
The open source wallet is required to use Blockchain’s technology for authentication,storage and encryption purposes and Shapeshifts API for the exchange of tokens. The expectation is that the wallet should be easy to navigate and completely eliminate the need to go back and forth between different wallets. In terms of innovation, the wallet should allow users to hold custom coins, including coins or token that are yet to be created. The app will be judged based on the basic requirements, the creativity of the interface in terms of driving innovation and the ability to create a user-friendly navigation environment.
Xan Ditkoff, a Growth partner at Blockchain says that creating a low-barrier-to-entry wallet is essential and that it should be comparable to online financial management systems that we currently have. This innovative bounty contest was launched in order to create one online wallet for all types of digitial assets, thus, highlighting the fast-changing demands of consumers in the cryptocurrency market.