The coding period for the 4th BSV hackathon started on June 14, 2021. The hackathon will run for six weeks until July 26, and the competition is open to regjestration for the entire coding period. This means that interested participants, whether individuals or teams, can always register for the blockchain-based competition. This year, the prize pool is $100,000. The grand prize winner will receive $50,000 and the second and third place winners will receive $30,000 and $20,000 respectively.
"I've always said that our role is to provide the infrastructure and for the ecosystem to find ways to leverage it - and with $100,000 being wagered for the winners of this contest, we're literally putting our money where our mouth is. I am excited to see the different approaches our hackathon participants are sure to take during the competition and the resulting final entries,” said the leading blockchain research and development company. nChannel CTO Steve Shadders, who is also one of the hackathon supporters, said.
This time, participants are tasked with developing peer-to-peer applications on the BSV Blockchain using the Service SPV Channels and Merchant API (mAPI). These applications are not limited to payment systems. Three finalists will be chosen after the coding period; and they will have the opportunity to present their projects live during the next CoinGeek Conference which will take place in October this year.
“This month’s release of SPV Channels CE v1.1.0 introduced a crucial new service to the BSV network and an integral component of the massive scaling vision that underpins the BSV blockchain. With this edition of the Hackathon, we are bringing this new capability to the fore, tasking our attendees with finding unique and innovative ways to use this service and deliver the true peer-to-peer vision for Bitcoin,” Shadders explained.
The BSV Hackathon, which began in 2019, is organized by Bitcoin Association, the Switzerland-based global industry organization that is pushing the enterprise adoption of the BSV blockchain. The goal is to increase awareness of the capabilities of blockchain technology by creating massive innovative solutions to real-world problems. By involving developers from all walks of life, the BSV blockchain can demonstrate its true value as the only stable, secure and transparent scalable blockchain on the market.
“Developer education is a key part of the work we do at the Bitcoin Association and one of the most exciting ways to get developers to learn how to build apps on BSV is through competitions like our hackathons. BSV… BSV's unlimited scaling, huge transaction throughput, and expansive data capabilities make it the ultimate blockchain for developers to work with, resulting in a diverse assortment of projects at every hackathon. Previous participants have used BSV hackathons as a springboard for investing, turning their competition projects into real-world businesses, so I'll be watching with great interest to see what new and exciting ideas emerge during this iteration of the competition,” Jimmy Nguyen, founding president of Bitcoin Association, said.
The BSV Hackathon is one of the perfect places to mingle and learn from other developers and experts. It also provides a way to not only refine their projects, but also create opportunities that would allow them to eventually launch their applications in the market. For example, a team consisting of brothers Connor, Dylan, and Kevin Murray only finished second in the second BSV Hackathon in 2019, but they were eventually able to win a grant and participate in the Bitcoin Association Pitch Day that gave them secured sufficient funding to launch their TrueReviews project, now known as BriteVue.
