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Blockchain

Polygon Launches Hackathon Inspiring Developers to Build Decentralized Apps, Backed by a $100,000 Prize Pool

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Polygon, an ethereum-based full-stack scaling solution bringing mass adoption to the ethereum platform, has launched Round 1 of its Polygon-Grants Hackathon on HackerLink, DoraHacks’ open source developer incentive platform. 

Developers are encouraged to come up with ideas for decentralized apps (Dapps) and bring them to life on Polygon, with a prize pool of $100,000, unlimited community funding, and coverage across Polygon’s marketing channels up for grabs. The prize pool will be allocated based on votes from the Polygon community executed via on-chain quadratic voting as well as those from assigned judges.

Polygon has a reputation for being one of the most developer-friendly ecosystems outside of the Ethereum mainchain, offering the best tools for building applications on Ethereum, including Hardhat, Truffle, Metamask, and Etherscan. The Polygon ecosystem has been designed especially to make it easy for developers to get started on Polygon, build Web 3.0 apps, access a 1 million-strong user base and gain funding from VCs. DeFi bluechip Dapps including Sushiswap, Curve, Aave, Balancer, Kyber use Polygon.

Sandeep Nailwal, co-founder of Polygon, said: “We’re incredibly excited about the ideas that will emerge from the Polygon-Grants Hackathon. We already have the biggest brains in blockchain building innovative apps on Polygon, this hackathon will help us to further unlock the potential of developers around the world to help shape the next phase of Web 3.0.”

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A range of these innovative Polygon-integrated projects that have gone on to achieve incredible success include QuickSwap, a permissionless decentralized exchange (DEX) based on Ethereum, and powered by Polygon Network’s scalability infrastructure; SushiSwap, an Ethereum-based decentralized exchange that lets you trade a wide range of tokens; and AaveGotchi, DeFi-powered NFTs staked with interest-generating tokens. 

Polygon has also presented a long list of ideas to inspire hackathon participants, including non-fungible token (NFT) bridges to other blockchains to enable NFT minting, a lending protocol that immediately provides liquidity for assets transferred cross-chain, a decentralized version of Patreon to support creators and influencers, and a protocol to decentralize insurance risk without needing a third-party.

Polygon currently houses six times more gaming and NFT Dapps than other chains – currently over 500 Dapps. Since April this year, Polygon’s Total Value Locked (TVL) – a metric that denotes market share and growth – rose from $1 billion to nearly $9 billion. Polygon’s rapidly growing market share suggests there’s a strong demand for Dapps on faster and cheaper blockchain solutions. 

Please visit Polygon-Grants Hackathon application guide for more information: https://hidorahacks.medium.com/polygon-grant-hackathon-application-guide-2d857f1be040

The Polygon-Grants Hackathon Round 1 will run from August 30 to October 22, and winners will be announced on November 3.

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Blockchain

Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)

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Building Customer Trust in AI with Blockchain

Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.

Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.

Source: Harvard Business Review

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Blockchain at a Crossroads: Balancing Promise and Peril

As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.

The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.

Source: Cointelegraph


BRICS vs. USD: Blockchain’s Role in Economic Shifts

The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.

This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.

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Source: CoinGeek


Hungri Games Expands MetaHorse Unity to Base Blockchain

Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.

By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.

Source: CoinTrust


Nano Labs Purchases Trump Tokens to Celebrate Presidency

Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.

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The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.

Source: PRNewswire


Final Thoughts: Blockchain’s Expanding Horizons

This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.

While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.

 

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Blockchain

CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo

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OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara

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Blockchain

The World Market for RegTech 2025-2030: Growth Trends, Industry Chain Analysis, Regional Insights, SWOT Analysis and Market Shares of Leading Players – Thomson Reuters, Deloitte, PwC, Accenture, IBM & More

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