Blockstack and Shapeshift offer a $ 50K reward for a universal wallet

The company Blockstack (formally Onename) is a network designed to create decentralized applications and expects to "deintermediate" the application layer through the Internet.

Source

In September of 2017, the company launched its Signature Bounties campaign with a $ 25 million project. The rewards are intended to reward software developers who create decentralized applications that are compatible with the Blockstack network. The new $ 50,000 reward with Shapeshift is aimed at evolving innovation for the entire cryptocurrency community.

"Increased interoperability and collaboration between projects will accelerate the pace of innovation and make the atomic value unit of each project accessible in all communities. That's why we are partnering with Shapeshift to enable an open source wallet where users can hold and exchange most current and future tokens. Everything in a decentralized way, "explains Xan Ditkoff of Blockstack.

The Blockstack Signature Fund and Shapeshift teams will award $ 50,000 to the individual or team with the best open source wallet application that uses Blockstack for authentication, storage and encryption, and the Shapeshift API for the token exchange.

Since the launch of the Blockstack Signature benefits, two decentralized collaborative applications use the protocol for operations. According to the website, Graphite is a "decentralized and encrypted replacement for Google's G Suite, built on Blockstack and powered by the Bitcoin blockchain."

Users log in to the application creating a meeting with the Blockstack identity system. Stealthy is a decentralized messaging platform that also uses Blockstack technology and Messenger can be used as a complement to Graphite.

The reward of the decentralized universal wallet application initiated by Shapeshift and Blockstack began two days ago and the deadline is June 25, 2018.

The wallet application must be open source, it requires the use of the Shapeshift API and the Blockstack encryption. In addition, the wallet must also support custom tokens. The application will be evaluated according to the shipping requirements, the creativity of the applications and if it is simple enough for users to adopt and navigate.

"Shapeshift, the main instant exchange of digital assets, is an ideal partner for a reward designed to drastically reduce the barrier for users to retain, exchange and add new tokens. Shapeshift has already done a lot to reduce this barrier, but it can do much more, "says the Blockstack announcement.

A wallet must come with support for the native token of any user, including those that have not yet been created. And it must be simple and easy to use, so that a user can have compatible tokens without having to go back and forth between different portfolios or services.

Source: news.bitcoin.com