Foundations Behind Ethereum, Stellar, Tezos, Oasis and NEAR To Back Crypto Hackaton
The foundations and companies behind several blockchain protocols have decided to unite in order to create an event: a crypto hackathon. The protocol managers, which include Ethereum, Tezos, Stellar, NEAR and Oasis, are focused on a hackathon that has the goal of making crypto and blockchain considerably more usable and useful for all kinds of people.
This new event is being organized by IDEO CoLab, the business unit of IDEO, which joined forces with the five protocol managers and CoinList.
According to the organizers, the hackathon is said to last over a month. It will be started on August 5 and it will continue until September 22. The main goal will be the creation of apps that can simplify the experience of using these apps.
It is a normal concern since something that still keeps most users away from cryptocurrencies are their current lack of usability. Most software is still too clunky for users, which ends up hurting the whole market. By radically simplifying the experience of using cryptocurrencies, there is the chance that the so awaited “killer app” that will make cryptos mainstream will appear.
Dan Elitzer, an investor of IDEO CoLab, talked to the crypto media outlet The Block Crypto and affirmed that the company is hoping to expand the number of new users in the market. The goal is to attract people who may have heard of the crypto market but are still not a part of it.
The investor also affirmed that he hopes that the developers will be able to create products that will let people engage with the blockchain technology in real and meaningful ways, which is something that is certainly needed in order to push forward the evolution of the ecosystem.
According to reports, the organizers and partners are looking for projects which can turn complicated tasks into one-click tasks. While it may seem easy at first, the truth is that this is pretty hard. Verification and remittance services, for instance, generally need several steps. It is no easy task to simply fix that.
Projects that integrate crypto and blockchain technology to popular sites such as Reddit or Youtube are also wanted by the creators of the hackathon.
All teams that want to participate in the competition need to sign up soon, as it starts in a few days. During the competition, they will have to deliver their project until September 9. The rest of the time will be focused on trying to demonstrate some adoption for the product.
The prize for the winner is $10,000 USD. The runner-up will get $5,000 USD and five teams will be awarded with $2,000 USD, too.