Block.One To Lure Ethereum Developers To EOS With $200k ‘EOSIO Smart Contract Challenge’
Block.one has offered a $200,000 prize after announcing the launch of a smart contract blockchain competition. The prize money will go to any developer who can figure out how Ethereum applications can be used to make it more operable on the EOS blockchain.
The announcement which was posted on the EOSIO DevPost on 3rd February stated that:
“In this challenge, participants must create an EOSIO Smart Contract which can store and invoke EVM (Solidity) Smart Contracts in a virtual Ethereum-like environment.”
The EOSIO Platform
The EOSIO blockchain was created by a company referred to as Block.One. The same platform that also hosts the EOS digital asset. EOSIO is a delegated PoS (Proof-of-Stake) blockchain known to hype smart contracts. This means that developers can create applications on the blockchain.
According to details included in the announcement, the competition is set to expire in twelve months if no developer has been able to find solutions by then. The first entity capable of finishing will walk away with two hundred-thousand-dollars in prize money.
Rules of the Competition
Those in charge of the competition have also set some ground rules to help govern the participants who want to take on the challenge. The rules call for developers to employ smart contracts in agreement with a precise set of technical requirements.
In addition to sticking to these rules, the team charged with judging the competition will examine entries made by the developers every ninety days, up and until the one year-end deadline is complete.
Block.one released the EOSIO version 2.0 in October 2019. EOS is a digital asset that was created on the EOSIO blockchain and then became famous for the ICO which ran for an entire year, before coming to an end. In the successful year-long ICO's run, the platform raised $4 billion from its investors. But in Oct 2019 the SEC settled with Block.One for $24 Million for the unregistered ICO.