Home Business Fourth Bitcoin SV Hackathon Announces 100,000 USD Prize Pool

Fourth Bitcoin SV Hackathon Announces 100,000 USD Prize Pool

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Switzerland-based Bitcoin Association, a global industry organization that pushes the enterprise adoption of the Bitcoin SV (BSV) blockchain and digital currency, has announced on May 17, 2021 that the BSV Hackathon will kick off on June 14 with a 100,00 USD prize pool at stake for the winners. This is the fourth BSV Hackathon since the event was launched on May 2019. The event is lead by Bitcoin Association in partnership with leading enterprise blockchain research & development firm nChain, of which Bitcoin creator Satoshi Nakamoto, known in the real world as Dr. Craig S. Wright, is a chief scientist of. Digital currency and blockchain conglomerate CoinGeek will also provide major sponsorship. 

As part of Bitcoin Association’s education program, the BSV Hackathon is primarily a coding competition geared towards pushing developers to their limits to learn and successfully harness the technical prowess of the original Bitcoin protocol with the end result of creating innovative works. Participants can work as individuals or teams; and they are assigned to develop an application on the BSV blockchain within a set theme and time period. The overarching theme will be announced on the first day of the competition. 

Developer education is a key component of the work we do at Bitcoin Association and one of the most exciting ways to incentivize developers to learn how to build applications on BSV is through competition such as our BSV Hackathons. With $100,000 up for grabs, the stakes are high, the standard of entry continues to get higher with each Hackathon, and the innovation displayed by competitors never fails to impress. The unbounded scaling, huge transaction throughput and extensive data capabilities of Bitcoin SV make it the ultimate blockchain for developers to work with—resulting in a diverse assortment of projects each Hackathon,” Bitcoin Association Founding President Jimmy Nguyen said.

 

Contestants will have access to a digital platform devised to promote collaboration among team members, as well as nChain experts present at the event. Participants are also encouraged to provide advice to their fellow competitors when needed throughout the event to foster a spirit of camaraderie and harmony.

“There is no better entry point for developers into the Bitcoin SV ecosystem than the Bitcoin SV Hackathons. With a huge cash prize at stake and expert support from nChain staff at the ready, BSV Hackathons are a great opportunity to test new ideas, try new techniques and learn how to leverage the blockchain in new and unique ways. The standard of entry has been higher and higher with every iteration of the competition, so I’m looking forward to seeing the entries from all around the world in what I’m sure will be our most competitive BSV Hackathon to date,” nChain CTO Steve Shadders commented.

The coding period has been set for June 14 to July 26. It has been extended to six weeks after the third BSV Hackathon, which went on for eight weeks from the original 48 hours, led to a record-high number of participants—418 people from 75 countries worldwide—with 42 completed projects submitted for judging. With this success, an extended coding period of six weeks is also being enforced this time, at the end of which only three finalists will be chosen by the panel of judges. 

The three finalists will then present their projects live at the CoinGeek Conference planned for October 2021. The finalists will be flown to the venue if travel rules and restrictions permit it. The first place will be awarded $50,000, the second place $30,000 and the third place $20,000, all payable in BSV. Participants of legal age from all over the world (except Brazil, Quebec, Cuba, Iran, Syria, North Korea and Crimea) can register for free for the fourth BSV Hackathon starting May 16. For more information, visit https://bsvhackathon.net/faq.

 

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