Two major startup Blockstack ShapeShift and decided to unite to create a single universal cryptocurrency wallet.
The Internet startup Blockstack (through its venture capital Fund, Signature Fund Blockstack) in cooperation with the exchange platform ShapeShift have launched a competition for developers. The competition started at 9:00 a.m. on 25 April 2018 and will run until 23:59 on 25 June 2018. The winner will be announced on 29 June 2018 and will receive 50 000 USD.
As in past contests, Signature Bounty, here the focus is on the creation of a decentralized application (DApp), in this case, decentralized universal wallet. However, in this campaign special attention is paid to interoperability (the ability of a product or system whose interfaces are completely open to interact and function with other products or systems without any access restrictions and implementation — approx.ed.) and cooperation with the Blockstack.
“Increased interoperability and cooperation between projects will only accelerate the pace of innovation. That is why we have partnered to create a wallet open source where users can store and exchange most, if not all, existing and future cryptocurrency”.
Successful project continues to evolve. Developers participating in the competition must use the technology of authentication, encryption and storage Blockstack combined with ShapeShift API to exchange tokens. It is important to create a wallet that will be able to support all coins, even those that have not yet been created.
Ksan Dickow, head of growth and business development in the Blockstack, explained:
“Rushing from wallet to wallet to exchange different tokens are burdensome. You need to consider the needs of people who are only familiar with cryptocurrencies and create a simple and easy-to-use device.”
The partnership plays into the hands and ShapeShift, since the platform will generate income by converting a user wallet of their tokens via the API.
Participants proposed projects will be assessed not only on the quality of the code. Judges will also examine how easily the code of the wallet is tested and can be used.