The Impact of Hackathons on the Development of Blockchain Technology
Over the past year, major cities across the world have hosted Ethereum hackathons. The primary role of such events is to promote the development of decentralized applications (DApps) and blockchain-powered solutions. Most of the hackathons were organized by ETHGlobal, a company that is dedicated to growing the Ethereum community by providing workshops, learning material and other useful resources to Ethereum developers. However, a majority of the developers have described ETHBerlin as the most successful hackathon event. This is because it produced remarkable projects such as the Battleship game built using SNARKs as well as a sharding prototype written by Vlad Zamfir, a prominent ETH developer.
The Revolutionary Effects Of Hackathons
Linda Xie, a renowned crypto investor who is also the co-founder of Scalar Capital and a consultant at 0x, has been a participant in all ETHGlobal hackathons since their introduction in mid-October 2017 at Waterloo, Canada. Recently, the ETHBerlin hackathon drew the media’s attention because all activities at the event were entirely run buy DApps and Ethereum-based blockchain solutions. Thus, activities such as streaming, ticketing and booking were conducted by DApps. Regarding this, Xie said that she was amazed by the advancement of the crypto space in Berlin.
Additionally, Linda identified Ethstonia Identity as her favorite blockchain project at ETHBerlin. The solution enables Estonian e-Residency ID holders to sign Ethereum transactions using their cards. According to Linda, this makes it possible for individuals to sign legally binding contracts on the blockchain.
As of now, digital currencies and blockchain technology are still in their early developmental stages. In this regard, most of the blockchain networks are working on creating a support infrastructure for institutional investors and establishing scaling solution to cater for the increasing number of users. Speaking on this matter, Linda acknowledged that the technology is still developing, noting that the hackathons are an indicator of the progress being made. Similarly, Andreessen Horowitz and Ben Horowitz likened the current buzz in the crypto developer community to the first days of the Internet.
The Importance Of Interconnectivity Amongst DApps And Blockchain Systems
Martin Koppelman, the founder of Gnosis, retreated the importance of developers creating DApps that depend on each other to establish interconnectivity amongst decentralized platforms. To this end, Martin referred to Augur and the 0x Protocol as ideal examples of this interconnectedness. Martin further encouraged developers to create DApps that interact seamlessly with each other on the Ethereum blockchain. Apparently, this will increase the demand for the ETH token, increasing its value.
All that said, it is evident that hackathons will contribute massively to the realization of DApps with interconnectivity and the establishment of projects that are currently hindered by lack of resources