Messaging Giant Telegram To Host Smart Contracts Coding Competition; $400k In TON Up For Grabs
Messaging app giant Telegram has kicked off a contest that will see developers come up with smart contracts for its new blockchain platform Telegram Open Network (TON).
According to the announcement, the contest will comprise of three parts where the award will be given for all the tasks. The awards ranges from $200,000 to $400,000 and the contest will come to an end on October 15.
The main part of the contest will be a task to develop one or additional smart contracts via the tools given within the TON blockchain distribution, this as explained in a document given by TON contest.
The other two parts of the contest comprise improvements recommendations for TON Virtual Machine as well as FunC. The last task involves TON blockchain bug bounty competition.
As per the competition’s details provided by the company, developers are expected to come up with smart contracts that can easily implement one of the five smart contracts found in the blockchain. This comprise of a multi-signature wallet, two forms of easy TON DNS Resolver smart contracts, a two party payment platform as well asynchronous two party payment channel.
According to Telegram, contestants willing to undertake the task of exploiting a bug in TON Blockchain are required to surrender a description as well as come up with a scenario of what would happen if the bug was to be exploited.
The developers are also required to exploit the bug within the TON blockchain and take away some money from another person’s wallet. This will earn the developers an award of $200,000 this will be in addition to the $200,000 award for smart contract developers.
The new contest comes at the backdrop of the much awaited Telegram virtual token known as Gram that will be launched next month. In the meantime, Telegram on sept.6 this month officially released the TON testnet explorer as well as node software. Telegram has also stated that its TON blockchain will be compatible with Ethereum Dapps.