Bitcoin Association, the Switzerland-based global industry organization that advances the enterprise adoption of the Bitcoin SV (BSV) blockchain and its digital currency, announced on May 17 that the 4th BSV Hackathon winner will get 50,000 USD, while the second and third place winners will get 30,000 USD and 20,000 USD to complete the total prize pool of 100,000 USD payable in BSV. The competition is held in partnership with leading enterprise blockchain research & development firm nChain and digital currency conglomerate CoinGeek will provide sponsorship.
The coding period for the BSV Hackathon will run from June 14 to July 26, 2021. The period has been extended to six weeks following the success of the 3rd BSV Hackathon, which used an 8-week coding period instead of the original 48 hours. It yielded record-breaking numbers with 418 participants from 75 countries and 42 completed projects submitted for judging. Registration began on May 16 and interested parties of legal age from all over the world (except Brazil, Quebec, Cuba, Iran, Syria, North Korea and Crimea) can register for free. Participants may choose to enter the competition as individuals or as part of a team.
“There is no better entry point for developers into the Bitcoin SV ecosystem than the BSV 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 said.
At the end of the coding period, participants will submit their final projects, which were created under an overarching theme to be announced on the first day of the competition. A panel composed of judges who are all experts in their own fields will then select three finalists. The finalists will be flown in to make their presentations live at the CoinGeek Conference that will be held in October 2021 for the final judging, travel rules and restrictions permitting.
The BSV Hackathon is in line with Bitcoin Association’s education advocacy that aims to spread awareness and correct misconceptions people about the original Bitcoin. The competition is designed in a way that fosters innovation, collaboration, honesty and fairness in harnessing the technical power of the original Bitcoin protocol. Participants will be given access to a digital platform that allows for collaboration between team members and experts from nChain. Entrants are also encouraged to provide needed advice to fellow competitors in order to promote camaraderie and creativity.
“Developer education is a key component of the work we do at Bitcoin Association and one of the most exciting ways to incentivise 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 commented on the announcement.
For more information, check out https://bsvhackathon.net/faq.