Bitmain Sponsors Bitcoin Cash Hackathon “BCH Dev Con”, Permissionless Ventures Gets $50 Million

Bitmain, the largest cryptocurrency mining company in the market, is currently sponsoring a Bitcoin Cash (BCH) hackathon in the United States. This is the first project that is financed using the $50 million dollars fund known as Permissionless Ventures (PV).

Bitmain has been one of the most successful companies in the space since it was founded. And not it has announced the first project related with the fund Permissionless Ventures. The BCH Dev Con will be hosted at Hilton San Francisco Union Square.

Between October 10 and 11, during the San Francisco Blockchain Week, over 5,000 visitors will be at the event. This is a way that aims to encourage innovation and development on the Bitcoin Cash network.

The PV Fund will be operating more like an incubator, says Epperly Li, Investment Director at Bitmain. The fund will be neutral, open and also creative, investing 60% in BCH projects and 40% in other different ideas and networks.

“Our idea is to build an open, innovative and creative ecosystem for BCH developers and communities. [We] want to work together with different blockchain communities to push forward the progress of blockchain technology,” explained Ms. Li during an interview.

The BCH Dev Con San Francisco will expand to other countries as well, including Amsterdam, Israel, Japan, South Korea and India.

The judges will be David Johnston of Factom, Shammah Chancellor from Bitcoin-ABC; Ryan X Charles of Moneybutton.com, Jiazhi Hiang from Wormhole, Josh Ellithorpe of Coinbase, and Gabriel Cardona from BITBOX.

There will be five different criteria to be evaluated during the hackathon including the understanding of blockchain technology, practicability, scalability, creativity and BCH score.

The decision to focus the hackathon on Bitcoin Cash has been decided on purpose. The organizers believe that Bitcoin Cash is one of the most important blockchain technologies that the market has ever seen in terms of scalability, security and future growth.

If you want to know more about the hackathon you can do it here.