Coinbase announces second bitcoin hackathon

Coinbase has recently announced the details of its second Bitcoin Hackathon competition, in which it is offering $70,000 in prizes for the best bitcoin applications. It said that the hackathon seeks apps that will explore new use cases for the digital currency and make it "more approachable".

The competition is open to everyone but applications must be filed before 19th May. Judging the entries will be investors Adam Draper, Chris Dixon, and Fred Wilson, along with Gavin Andresen, chief scientist at the Bitcoin Foundation.

The top five contestants will be eligible to compete for a place in Boost VC, the Silicon Valley bitcoin accelerator, which includes seed funding, mentorship and accommodation and is valued at $50,000.