Chainlink has taken the wraps off its most extensive hackathon event to date, dubbed Constellation, set to commence on November 8 and run through December 10, 2023. This announcement comes on the heels of Chainlink’s evolution since its initial virtual hackathon in 2020, which had garnered over 1,000 registrations and 70+ project submissions from enthusiasts spanning 45 countries. The initiative was a frontier at the time when the Decentralized Finance (DeFi) space was in its nascency, and Non-Fungible Tokens (NFTs) were just beginning to make a mark.
Hackathon’s Progression Over Years
The narrative of Chainlink’s hackathons over the years is one of growth, advancement, and betterment. Each subsequent hackathon has surpassed its predecessors in scale and sophistication, culminating in the upcoming Constellation event. This platform has been meticulously crafted to offer a straightforward success pathway for Web3 engineers of all experience levels, through the Chainlink platform, which serves as a universal conduit to myriad blockchain networks. Over the years, these hackathons have morphed into a launchpad for developers to interact with state-of-the-art infrastructure elements, thereby reshaping the global perception and utilization of Web3.
Prize Distribution and Categories
The Constellation hackathon boasts a prize pool of $350,000, spread across seven core prize tracks. The prize tracks are designed to cover a broad spectrum of blockchain applications.
Grand Prize ($25,000): This top accolade is set aside for the project that exemplifies superior implementation, irrespective of its vertical or theme.
DeFi and Payments ($22,500): A call to arms for developers to forge lightning-fast DeFi applications that could serve as the financial bedrock of the future.
Cross-Chain Solutions ($22,500): Capitalizing on Chainlink’s CCIP, developers have the chance to pioneer secure cross-chain projects.
Web3 Gaming and Dynamic NFTs ($15,000): This track focuses on expanding the horizons of Web3 gaming and NFT collections.
SocialFi Innovation ($15,000): An avenue to explore the amalgamation of Web3 and social platforms.
Web3 and AI ($15,000): This confluence of two tech frontiers offers a playground for connecting AI with smart contracts.
Tech for Good ($15,000): A category for those with a penchant for creating tech-driven solutions for societal betterment.
Additionally, 20 Top-Quality Prizes of $500 each will be awarded to projects that showcase exceptional implementation.
Technical Recommendations and Evaluation Metrics
The evaluation of submissions will be executed via a point system, encapsulating factors like User Experience (UX), technical implementation, practicality, and creativity. The anticipation is for projects that not only embody creativity but are polished, practical, and stretch the boundaries of Web3 tech. Bonus points are on the table for projects incorporating multiple Chainlink services in a meaningful manner.
Constellation is not merely a competition but a comprehensive learning experience. It offers a plethora of educational resources, technical workshops, and real-time support to cater to developers at different stages of their Web3 journey. The gamut of learning tracks spans from beginner to expert levels, each laden with tailored resources to expedite the learning and development process.
At the core, Constellation aims to act as a catalyst in nurturing the new generation of Web3 developers by equipping them with the requisite tools, networking opportunities, support, and incentives. Chainlink provides a fertile ground for developers, featuring access to scalable blockchains, secure cross-chain operability, and seamless API connectivity, thereby setting the stage for breakthrough projects that could potentially redefine the Web3 landscape and elevate the industry to unprecedented heights.
Solana, a leading blockchain platform, unveiled its latest initiative, Hyperdrive, in a series of tweets on September 6, 2023. The event is described as an engineering and business competition where teams can transform an idea into a fully operational project within a span of five weeks.
Grand Prize & Speciality Prizes: Solana has partnered with various entities for specialty prizes in categories such as Mobile Apps by MagicEden, Finance/Payments by Helio Pay, AI by UXD Protocol, DePIN by ionet official, Crypto Infrastructure by Ironforge Cloud, Gaming by Phantom, and DAOs/Network States by Balajis & The Network State.
Resources & Support: For participants seeking guidance, Solana has provided a range of resources available on its official website, along with FAQs and a dedicated Discord channel.
Past Success: According to Solana, their previous hackathons have garnered over 48,000 participants, led to the creation of more than 3,000 eco products, and attracted over $600 million in venture funding for winners.
Physical Locations: In addition to the online format, Solana is also facilitating in-person collaborations through Solana Hacker Houses in Bengaluru and Mumbai.
Eligibility: The competition is open to participants who are of the age of majority in their state or country of residence. No purchase is necessary to enter or win.
While Solana’s Hyperdrive aims to foster innovation in the crypto space, it’s worth noting that the competition is one among many in a crowded field of blockchain initiatives. The event does, however, offer a structured platform for developers and entrepreneurs to bring their ideas to fruition, backed by a blockchain that has previously demonstrated its ability to attract significant venture capital.
As of the latest data, the keyword “Solana Hyperdrive” is yet to gain significant search volume. However, related terms like “Solana Hackathon” and “Solana Competition” have shown consistent interest over the past year, indicating a potential uptick in searches as the event progresses.
Hyperdrive presents an opportunity for both novice and experienced developers to engage with Solana’s ecosystem. With a history of successful hackathons and a variety of specialty prizes, the competition could serve as a launchpad for the next wave of crypto innovations.
The winners of Season 3 of the TRON Grand Hackathon 2022 got an early holiday gift this Friday. The recipients of each of the 107 prizes being distributed for this season’s HackaTRON were announced. There were 1185 participants who formed 272 teams that submitted projects in one of six tracks: Web3, DeFi, NFT, GameFi, Ecosystem, and TRON Academy.
Season 3 submissions began on September 20 and ended on November 14. The judging period lasted from November 29 to December 12. In addition, a second group was chosen by Hackathon participants who were active in the TRON DAO Forum. That voting period lasted from November 29 to December 4. Then, the winners of both groups were announced on December 16.
The TRON Grand Hackathon 2022 Season 3 winners selected by our judges are:
All projects whose team members participated in the TRON DAO Forum were eligible to vote in the peer evaluated selection of winners. The TRON Grand Hackathon 2022 Season 3 winners selected by the TRON DAO Forum are:
The TRON Academy Track was new this season and involved a face-to-face competition called the “Hacker House.” That portion of the Season 3 HackaTRON was held in person on the campus of Harvard University during the weekend of November 12–13, 2022. Two categories of winners were selected – technical and non-technical. The winners were:
There were three additional bonus prizes given for Season 3:
The Devpost Community Prize of $1,000, which was determined by popular choice voting on Devpost by Devpost community members.
The Project Engagement Prize of $5,000, which was determined by the TRON DAO team based on how well a project engaged on the TRON DAO Forum.
The Community Contributor Prize of $5,000, which was determined by the TRON DAO team based on an individual’s valuable contributions during the hackathon. This prize was distributed in $500 increments to ten individuals who did not win another prize.
On December 20th 2022, TRON DAO leaders will hold their monthly Community Call and this month’s focus is the Hackathon and its winners. It’s a chance to congratulate all of the winners for their hard work and innovative ideas, which made this season’s HackaTRON one the best yet. “From cutting-edge solutions to real-world applications, the projects developed during this Hackathon demonstrated the true potential of blockchain technology,” one TRON DAO team member noted.
TRON DAO strives to empower blockchain projects in alignment with its vision of building a decentralized web. The TRON Grand Hackathon is one essential approach toward that goal.
CONGRATULATIONS to the winners of the TRON Grand Hackathon 2022 Season 3! Many thanks to all of the participants, judges, and sponsors who made Season 3 of the TRON Grand Hackathon 2022 such a huge success. We can’t wait to see the innovations developed in the 2023 Hackathon.
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of December 2022, it has over 129 million total user accounts on the blockchain, more than 4.4 billion total transactions, and over $9.7 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time a major public blockchain partnering with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
The Singapore-based company, Crypto.com, has hired the former TechChurch and The Ken reporter, Jon Russell as their Asian-based general partner. And with this new development, they hope to expand Fund further.
Crypto.com’s $200 million Web 3 fund came into existence in March 2012. As of Monday, intending to expand via the venture arm of investing in Series A stages, project at seed and crypto startups, has grown expectedly.
Russell, during an interview, made known that the fund is believed to rise to double its current size and will be announced in a few days.
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Crypto.com is still hiring GP’s, but with the help of Russell, the fund’s acknowledgment will extend to that Asia-based project. Though Bobby Bao, Crypto.com co-founder, currently runs the fund.
Things To Know About Jon Russell
Jon Russell is a Uk citizen based in Bangkok. He has lived in Thailand since 2008. In 2014 Jon Russell became a reporter for TechChurch focused on all tech-related issues in Asia. Especially all the major names in India, China, and Southeast Asia.
Related article | Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack
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With this, he changed the daily life of people across Asia. And his knowledge and influence in the tech and crypto field are precisely one of the reasons Crypto.com has hired him as one of their General partners in Asia.
Crypto.com Expansion in Asia
The Capital prior investment of Crypto.com comprises liquidity provider Woo Network and the first fractional-algorithmic stablecoin protocol Frax Finance.
VCs to allocate stock to the ecosystem regardless of the bear market. This leaves Sino Global Capital opening to outside investors through a $200 million fund and FTX ascertaining a $2 billion investment.
On June 17, 2021, Crypto.com was integrated into the biggest and most effective digital asset transfer network for institutions, Fireblocks Network.
And this helper, Crypto.com, reaches about 400+ institutional participants in their network, thereby helping them grow trading volume and global level. In addition, one of the largest banks in the Singapore region, DBS Bank, is now operating a crypto trading desk.
And recently, a majority stake in Thai cryptocurrency exchange Bitkub was amassed by Siam Commercial Bank (SCB), Thailand’s bank.
Innovation Officer Mukaya Tai and SCB 10x Chief Venture have proclaimed that she foresees world DeFi protocols have interposed banks. Huge institutional yearning for digital assets is quickly growing in Asia.
Related article | Largest DeFi Hack Yet? BadgerDAO Hack Results In Loss Of $120M+
Crypto has earned about 2 million transactions and USD 1 billion in TVL and spotlighting projects like VVS Finance and a couple of others. Moreover, Crypto.com motivated developers to build on Cronos via the Cronos Bounty Programme. It will grant USD 1,337,133.7 as the biggest reward and a Hackathon.
Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020.
Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price above $49,000 and Ether trekked back above the $4,000 mark. Altcoins followed suit with their usual double-digit gains and for the moment, it appears as if bulls have taken back control of the market.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were ECOMI (OMI), Aragon (ANT) and RAMP.
ECOMI migrates to Immutable
ECOMI is a technology company focused on building a blockchain-based digital collectibles marketplace where users can buy and share nonfungible tokens (NFTs) across the social network service using the project’s native OMI token as a medium of exchange.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OMI on Dec. 1, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for OMI climbed into the green zone and reached a high of 81 on Dec. 1, around 96 hours before the price began to increase 39% over the next ten days.
The building momentum for OMI comes as the ECOMI ecosystem migrates to Immutable, an Ethereum (ETH) scaling solution specifically designed for NFT projects.
Aragon hosts a DAO hackathon
Aragon Ethereum network-based protocol that supports decentralized autonomous organizations (DAOs) developing governance structures to encourage community engagement.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANT on Dec. 12, prior to the recent price rise.
As seen in the chart above, the VORTECS™ Score for ANT began to pick up on Dec. 12 and reached a high of 70 around two hours before the price began to increase 60% over the next two days.
The rally in ANT price is taking place at the same time as a DAO global hackathon aims to attract developers to the Aragon ecosystem and there are rumors that the DAOpunks NFT project conduct an airdrop to ANT holders.
Related:Bitcoin sheds ‘dumb money’ as retail buys most BTC since March 2020 crash
RAMP benefits from liquidity mining incentives
RAMP is a multi-chain decentralized finance (DeFi) protocol that helps investors become more capital efficient.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.179 on Dec. 14, the price of RAMP spiked 52.56% to a daily high at $0.274 on Dec. 15 as its 24-hour trading volume surged 800% to $54.2 million.
The price spike for RAMP came after the launch of a liquidity mining incentive program resulted in a sharp uptick in the total value locked in the protocol. Currently there is $63.3 million invested across Ethereum, Polygon and Binance Smart Chain.
The overall cryptocurrency market cap now stands at $2.126 trillion and Bitcoin’s dominance rate is 41.7%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Ever since the launch of the inter-blockchain communications, or IBC, protocol in March, which enabled the communication and transfer of digital assets across different blockchains, development activity seems to have picked up pace on the Cosmos (ATOM) network.
Transaction volumes, the creation of decentralized applications, and the number of chains connected via IBC have all been trending upwards in recent months. Speakers at the Cosmoverse Conference, which took place last week, presented many of the latest technologies under development on the blockchain. Its biggest-ever hackathon will also take place in Lisbon tomorrow.
#HackAtomVI is trending in the dev community!
1000+ Developers Have Already Registered to the Biggest HackAtom in Cosmos History!
Don’t miss your chance to win $1M+ in Prize Pool and start your journey in the Internet of Blockchains with a Bang!https://t.co/TqAedC16jn pic.twitter.com/w1hasCxyQo
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) November 9, 2021
Tendermint is the core developer behind the Cosmos blockchain and serves as its gateway to the ecosystem. On Wednesday morning, Peng Zhong, the company’s CEO, joined Cointelegraph in an exclusive interview to discuss the future of the Cosmos network.
Cointelegraph: What are some of the development highlights surrounding the Cosmos blockchain in terms of the decentralized finance, or DeFi, ecosystem?
Peng Zhong: I think the biggest highlight was early this year when IBC [Inter-Blockchain Communications] launched on the Cosmos hub for the first time. Not much happened after that. People were like, okay, IBC is live, now what do I do? But now, we are seeing 22 blockchains that support IBC. They have all been able to connect to various DEXs [Decentralized exchanges] available in the Cosmos ecosystem, such as Osmosis, Gravity DEX. So there’s been a lot of cross-chain activity, much more than anyone expected. And we are seeing a very positive growth cycle with IBC enabled.
Total transaction volume on the Cosmos blockchain in the past 30 days. | Source: ATOMSc
CT: Interesting, so where do you see the IBC ecosystem heading, say, five years from now?
PZ: That’s very far in the future. I was going to present tomorrow that we are seeing 22 chains today, and next, we’ll see about 200 chains connected through IBC next year. I haven’t thought about five years out, but my long-term vision running Tendermint and with our focus on bringing more users to Cosmos and a better development experience to the Cosmos Stack. We’ll see a million blockchains in the future. Five years from now, I would expect that number to be tens of thousands, if not hundreds of thousands of chains linked through IBC. And that’ll be absolutely spectacular, but we have a lot of work to do on the infrastructure side to handle all that encrypted data.
CT: Regarding the recent Cosmosverse, an intriguing development that came up was the concept of liquid staking. Would you mind providing more information on that?
PZ: I believe there are at least three different implementations of liquid staking as presented at Cosmoverse. It was a fantastic conference; I met many people who’ve been working in this space during the pandemic and never got a chance to see them face to face until now. And then people working at Cosmos for over five years and are still around — and it speaks to the strength of the ecosystem. So liquid staking at a high level is the ability to allow users to double-dip with their assets. Most commonly, in PoS [Proof-of-stake] protocols, you need to stake your tokens to secure the network as a user. And by staking your tokens, you earn yields. For the Cosmos Hub, it’s generally between 7% to 20% APY. But then you look at some DeFi protocols, for example, Osmosis or other DEXs built on Cosmos, and you can see that during the launch of these DEXs, they [the developers] want to increase liquidity.
So APYs can be at thousands of percent within a few weeks or hundreds of percent for a few months. And they are much much higher than staking yield. So there is this constant battle, or tug of war, between the incentives for staking, which is to secure the network and is good for everyone, but you earn minimal yield. This is compared to incentives provided by DEXs for acting as liquidity providers, which is very tantalizing. So liquid staking is the ability to allow you as a staker to stake your assets, but at the same time, you get a token that represents your staked position.
So if you stake 100 ATOM, instead of receiving nothing in return other than a steady stream of staking rewards, you would receive [both] staking rewards in ATOM, and you would receive a staked version of your ATOM, let’s say sATOM. And that is only IBC-enabled, which means you get to permissionlessly transfer it to DEXs and use that to provide liquidity in pools. That’s the general idea of liquid staking; it’s a big feature that’s coming to multiple blockchains at once.
The version that’s coming to the Cosmos hub is more standard, it’s where you stake the assets, and you get a token that you can use interchain. The version proposed by Osmosis is called Superfluid staking, which is the ability to provide liquidity in a DEX while being issued liquidity provider tokens (LPs) back, which you can use to stake on the blockchain. So whether you LP first or stake first, you always get the representation you can use across IBC, which is a lot of flexibility and freedom.
However, it adds a lot of added risk because this is now like a second-level derivative of your original token. So if anything breaks down along the way, you might be in trouble. But for those of you who have a big appetite for risk, liquid staking offers more than what you can get off traditional yields.
CT: Is this technology theoretically applicable to all kinds of pools? For example, can I receive a lending token to back deposit into a staking pool to earn yields if I lend out my crypto?
PZ: Exactly, you’re on the right track. And there can be many levels of this, and each level gives added risk to your portfolio, so it’s a matter of figuring out how much risk you are willing to take. A lot of this [liquid staking] has happened in Ethereum due to the power of ERC-20 tokens, but it’s only started to be developed in the Cosmos ecosystem. And of course, in Cosmos, there is an added layer of complexity on top due to the differences in the level of security. So part of the proposed benefit of liquid staking is the ability to share security between multiple chains at once. Which is sort of a looser version of Ethereum where everything is secured by the token.
CT: Another recent development discussed at Cosmoverse is ABCI++ and how it can help improve cross-chain functionality and oracles. Would you mind elaborating more on that?
So the Tendermint Core protocol hasn’t been updated in quite a long time in terms of new features. And ABCI++ is a very big new feature. What it does is that it increase the features that Tendermint Core can support. So right now, a function can be run at the end of every single block, which is what all Cosmos blockchains use to do their business logic. At the end of every single block, which on Cosmos, is usually six to seven seconds, some activity can happen. But the Tendermint Core Consensus, while it does create consensus around new blocks, it’s not a single-step process; it’s, in fact, a five-step process of block consensus creation.
There’s, in fact, a built-in block explorer in the past, which hasn’t been updated much, but actually shows every step of Tendermint block consensus. What ABCI++ is, is that it allows a developer to tap into each one of these five steps. You can imagine them; instead of just admitting one event for every block that’s complete, it admits now five events, and now you can pick and choose which step you want to admit to a consensus that you want to run for that function. And that introduces a lot of potential for more efficient calculations.
The New [v0.35] #TendermintCore Release:
• Prioritized Mempool
• Peer-to-peer Network Makeover
• StateSync Improvements
• Go API Internalization and Stability
…and additional Great Features to discover https://t.co/zXP4t6EBiF pic.twitter.com/zQtV6paZgm
— Tendermint (@tendermintHQ) November 5, 2021
CT: Is Tendermint taking any steps to introduce Cosmos into the Metaverse?
PZ: Yeah, so I think the Metaverse is quite undefined right now. It’s everyone building things as Web 3.0. Of course, Facebook can take a claim that they’re building the Metaverse, but it’s only going to be Facebook’s wall garden Metaverse. There’s going to be Google’s wall garden Metaverse and Apple’s version of that. I would assume Steam and Epic Games have their own version. But the version that most of us want today is open-ended and permissionless.
CT: What are some of the highlights of the upcoming hackathon?
PZ: So it’s the biggest Cosmos hackathon. And I think Cosmos is the second largest crypto ecosystem in the world, with over $170 billion [of assets] built on the Cosmos infrastructure. It’s a very significant event for the world at large. Zooming out a little bit and looking at what happened last year, which was on a much smaller scale. That was when this proof of concept DEX project called Osmosis won the biggest prize. And today, Osmosis is a live blockchain with over $700 million in TVL [Total value locked]. Maybe it’s a fluke, but I’m hoping to see projects of this caliber this year. This time around, we have far more prize categories; I believe it’s seven, each with over $200,000 worth of prizes. This wide array of prizes is our way of making sure people are solving a diverse set of problems. There’s so much unbuilt infrastructure, and it doesn’t make sense to award only one prize.
Growth of TVL on the Osmosis DEX. | Source: DeFi Llama
CT: Would you like to share any other comments or visions regarding Tendermint and the Cosmos blockchain?
PZ: Yes, I believe that Cosmos is the only ecosystem that tries to democratize access to finance, more so than any other ecosystem. Because in Cosmos, you don’t need to buy a token to get involved in the ecosystem. When you build on Cosmos, you don’t have to buy anything; you don’t have to pay for gas, and that I believe is something very valuable in economies where you can’t really afford expensive transactions, and when you don’t really have the capital to really experiment with these hybrid ecosystems, like Polkadot or Avalanche or Polkadot or Ethereum, and appealing to people with time. Young people with time but no capital are out of Web 1.0 today, and Cosmos will win Web 3.0. And that’s really the core mission of Tendermint, to bring newcomers, make it as easy as possible to build things, and we welcome everyone.
Kinki University and the IOST Foundation will hold a two-day hackathon from August 26 and 27. Associate Professor, Masamitsu Moriyama, Faculty of Science and Engineering, will be in charge of the event to allow students worldwide to experience product development using blockchain technology with NoCode.
Blockchain Education in a Two-Day Session
Usually, hackathons help students win awards, interact with other students worldwide, and practice skills with real-life problems, and this program is no different.
During thehackathon, experts from significant industry companies will discuss their blockchain technology applications.
The primary purpose of Hackathon No Code education is to experience product development using blockchain technology. It also integrates working as a project team that incorporates humanities and sciences where students worldwide come together to learn and gain new experiences.
Bringing Up Blockchain Teams
During these two days, students will work in groups to develop a product using the IOST blockchain. IOST’s developer’s community will support them.
On the first day, August 26, Takeshi Nakamura and Masato Ohashi from Oracle Japan will be speakers in blockchain and supply chain use cases and needs. Katsuya Konno, CEO of Fuel Hash, will then talk about the latest trends in the distributed storage business.
On August 27, the speaker will be Fumitoshi Ogata, DeNA, and will talk about thefuture of NFTin the game and entertainment fields. Takashi Oka, the co-founder of PHI, will then speak about DAO, the community’s future.
Finally, every student will show how much they have grown over the previous two days and use an IOST blockchain voting mechanism to determine who has developed the most.
IOST Foundation is Unleashing the Power of Blockchain
The IOST Foundation has beenworkingon the knowledge of blockchain technology and the development of potential blockchain engineering since its activities in Japan began.
In 2019, this activity grew into the Blockchain Free Educational Program, implemented with around 300 students in 8 universities and technical colleges.
The most recent one was the blockchain education segment with the University of Zurich Blockchain Center.
In July, IOST sponsored the International Summer School Program 2021 named ‘Deep Dive into Blockchain.’ Experts such as IOTA, Tezos, Cardano, and IBM, including professors from different universities, taught the program.
IOST is a high-speed, decentralized blockchain network that is based on the Proof of Believability (PoB) consensus algorithm. It is a next-generation blockchain technology that offers network infrastructure to support a service-oriented ecosystem.
Blockchain platform Solana announced an open invitation to Building out Loud, a hackathon venture exclusively for Indian developers and entrepreneurs. According to the official statement, Solana plans to launch the 3-week long event in collaboration with Devfolio and YouTube influencer Superpumped.
Solana’s announcement consists of a free and open invitation to “students, Web2 & Web3 developers, engineers and anyone looking to get into crypto organized in collaboration.” The move towards involving India’s open source community in crypto may be surprising to those aware of ongoing resistance against Bitcoin (BTC) from mainstream Indian banks such as ICICI. The last date for applying for the hackathon is 12 Aug.
Crowning hackathons as the birthplace of crypto startups, Solana stated:
“If you’re an ambitious engineer or developer in India looking to build something, this is the skyhook you’re looking for.”
In addition to the cash prizes from a pool of $80,000, winning participants will get to raise capital from Solana Foundation and prominent global investors. This initiative also sees the involvement of prominent crypto figures and entrepreneurs, including former Coinbase CTO Balaji Srinivasan, seed investor Chris McCann and CRED founder Kunal Shah.
While the hackathon will use Solana’s global public chain to deploy crypto apps, Cointelegraph has reached out to Solana to understand India’s stance on such initiatives. The company is also yet to clarify if it intends to pay winners in cryptocurrencies or fiat.
Related: Phantom raises $9M to launch multi-chain crypto wallet
The Solana ecosystem has been responsible for the birth of several crypto apps and projects. Back in April 2021, Cointelegraph reported the commencement of Solana-native decentralized finance protocol Step Finance’s private token sale for $2 million.
According to the information available, Harmony Hackathon will last for six weeks. The Hackathon will commence on August 15, 2021, and ends on September 30, 2021.
Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator
There will be three categories, and each one will have four challenges for the experts to complete.
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🚀 1/ We are happy to announce the Bridging #TradFi to #DeFi #hackathon where Harmony, along with prize partners, will be giving up to $1,000,000 in prize money and non-dilutive seed funding. Why are we doing this?https://t.co/qeq6U9M0LV
— Harmony (@harmonyprotocol) July 15, 2021
Presently, the organizers, Harmony blockchain, have disclosed that the registration for the event will start in August. Also, there are more than one million dollars available in seed funds and participant prizes. The company made the announcement on Thursday through Twitter.
According to the announcement, the hackathon aims to achieve cooperation between traditional finance and decentralized finance.
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Furthermore, the team aims at bringing more people from the traditional finance sector to tackle the challenges affecting both their industry and the DeFi sector.
A Brief On Upcoming Hackathon
According to what Harmony revealed, the Hackathon will come in three categories. These categories will have four challenges, including cross-chain & trustless bridges, cross-border with fintech integration, social wallets & keyless security.
Harmony also made some statements on Twitter saying that blockchain finance is where there’s product-market fit. However, many people who created decentralized finance are not of traditional finance.
Therefore, Harmony aims at bringing more traditional finance experts to add their knowledge to decentralized finance.
Harmony also mentioned that traditional finance experts have many things to teach them in DeFi. Likewise, DeFi practitioners can also help them understand the sector more and learn how to utilize it. So, it will be a mutually beneficial event for both TradiFi and Defi.
Related Reading | Nifty’s Inc. Partners With Warner Bros To Roll Out A Social NFT Platform
Concerning the event, Harmony disclosed some people who will speak in the event or serve as judges for the participants.
According to the blockchain, these people include, Omakase, the core developer of SushiSwap, Lily Liu, the co-founder of Earn.com, the lead for DeFi Alliance Imran Khan, and other prominent people in the industry.
Also, the event sponsors include Messari, SushiSwap, CoinGeckom, Unstoppable Domains, DoraHacks, DappRadar, Hummingbot, and The Defiant, a news platform.
A Brief on Harmony
Harmony is a Sharding protocol that uses a “Trustless Ethereum Bridge” to separate its blockchain into different segments. These segments are responsible for the processing and storage of data in parallel.
The mainnet launched in 2019, and since then, the company has partnered with many others to push its operations further. Also, Harmony has completed many integrations since then as well. For instance, it added Terra to its blockchain to use the token on the apps in the ecosystem.
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The blockchain disclosed that it would sponsor the Hackathon in June. According to the blockchain, it aims to reach 10 billion users, which is a way to achieve it.
The registration will end on August 15, and teams can only be 5 people. Once they reached the submission deadline, the event will kick-off.