The 4th Bitcoin SV Hackathon starts today with peer-to-peer applications in focus and $ 100,000 up for grabs
TRAIN, Switzerland, June 14, 2021 / PRNewswire / – Bitcoin Association, the Switzerland-based global industry organization working to advance the BSV blockchain business, today announced that the coding round for the 4thNS The Bitcoin SV Hackathon has officially started, the competition runs until July 26th. The theme of this iteration of the competition is “Peer-to-Peer Applications”, with a USD $ 100,000 (payable in BSV) Prize pool for the winners.
Bitcoin SV Hackathons, one of the key events in the Bitcoin Association’s developer education program, are global programming competitions designed to challenge developers both to learn about the technical capabilities of Bitcoin’s original protocol and to innovate on the fly. Within a specified period of time, the participants – individually or in a team – are commissioned to develop an application on the BSV blockchain as part of an overarching topic announced at the beginning of the competition.
The theme of this iteration of the competition is “peer-to-peer” applications – not just payments, but any type of application that involves direct interaction between the participants in the Bitcoin network. Participants are tasked with using the recently released SPV Channels service as part of their application to facilitate communication over the network, as well as interacting with the Bitcoin network directly through the Merchant API (mAPI).
After the success of the 3rd Bitcoin SV Hackathon, which extended the coding phase of the competition from 48 hours to 8 weeks and led to a record number of participants and submissions – with 418 participants from 75 countries and 42 submitted final judging projects – this edition will also be another have extended coding period. The coding phase of the competition begins on 14th June and last until July 26th.
At the end of the coding period, three finalists will be selected by an expert jury. A representative from each of the three finalists will be flown to present their submission live for final evaluation at the CoinGeek conference which will be held in. is expected October 2021 (Applicable travel rules and restrictions at the respective time). The finalists compete for a share of one USD $ 100,000 Prize pool payable in BSV – $ 50,000 for 1st place, $ 30,000 for 2. and $ 20,000 for 3.
As in previous competitions, the 4thNS The Bitcoin SV Hackathon is run by the Bitcoin Association in collaboration with the leading blockchain research and development company nChain, with sponsorship provided by the digital currency conglomerate CoinGeek.
Participants will have access to a digital platform designed to facilitate collaboration between team members as well as nChain experts and even competitors who will be available for advice throughout the competition period.
Registration is free and possible now at bsvhackathon.net
The founding president of the Bitcoin Association speaks about today’s announcement Jimmy Nguyen, commented:
“We are really looking forward to the start of the 4thNS Edition of today’s Bitcoin SV Hackathon, which challenges participants to take advantage of the unique peer-to-peer capabilities of the BSV blockchain and the massive scaling options it enables. Earlier iterations of the competition introduced innovative new applications and services to the BSV network, including those that later received risk investments and became full-fledged businesses. I assume this edition will be no different and I look forward to the high quality contributions that we expect from those taking part in our Bitcoin SV Hackathons. “
Also commenting, nChain CTO Steve Shadders, called:
“With the release of SPV Channels CE v1.1.0 this month, a critical new service was introduced for the Bitcoin SV network and an integral component of the massive scaling vision that underpins the BSV blockchain. With this edition of the Hackathon, we are putting this new skill at the center of attention by tasking our attendees with finding unique and innovative ways to use this service and realize the true peer-to-peer vision for Bitcoin, I have always said that our role is to provide the infrastructure and the ecosystem to find ways to use it – and with $ 100,000 Wagering on the winners of this competition, we literally put our money where our mouth is. I’m excited to see the different approaches our Hackathon participants take during the competition and the resulting final contributions. “
Via Bitcoin Association
Bitcoin Association is the Switzerland-based global industry organization working to advance the Bitcoin SV blockchain business. It brings together essential components of the Bitcoin SV ecosystem – companies, start-ups, developers, traders, exchanges, service providers, blockchain transaction processors (miners) and others – who work with them and in a representative capacity to further use the Advancing the Bitcoin SV blockchain and the uptake of the BSV digital currency.
The association is working to build a regulation-friendly ecosystem that encourages lawful behavior while facilitating innovation using all aspects of Bitcoin technology. Bitcoin is not only a digital currency and blockchain, but also a network protocol; Just like the Internet Protocol, it is the basic set of rules for an entire data network. The association supports the use of the original Bitcoin protocol to run the world’s only blockchain on Bitcoin SV.
SOURCE Bitcoin Association