Coinbase has announced a hackathon with $70,000 worth of prizes. It is a six-week online competition, deadline May 15, open to developers around the world with no requirements to be physically present.

Earlier this year the Bitcoin wallet and exchange service, Coinbase, launched a developer portal providing information and documentation for its APIs. These tools support a wide variety of Bitcoin capabilities, to include creating bitcoin wallets, sending/receiving and buying/selling bitcoin, building bitcoin trading tools, and exploring raw blockchain data. Although the use of Coinbase APIs is not required for Bithack, the competition is presumably intended to promote them.

Entries are invited from individuals and teams and will be evaluated based on the creativity, usefulness and quality of user experience by a Coinbase team of experts, venture capitalists and some of the Bitcoin industry’s most prominent figures including Gavin Andresen of the Bitcoin Foundation.

The top 5 apps will be rewarded with bitcoin as follows:

The winning teams will also compete for one slot in an upcoming BoostVC bitcoin accelerator class, which includes seed funding, mentorship, housing and more, valued at $50,000.

The first step for anyone interested in BitHack is to sign up by providing your name and email address. 

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