Blockchain
Polygon Launches Hackathon Inspiring Developers to Build Decentralized Apps, Backed by a $100,000 Prize Pool
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.”
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 (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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