October 27, 2020

Blockchain hackathon Genesis Hack with a prize fund of 52.5 million rubles

Blockchain hackathon Genesis Hack with a prize fund of 52.5 million rubles

The Indian company International Blockchain Congress (IBC) will hold a hackathon from January 20 to May 18, 2019 blockchain technology and cryptocurrencies. To take part in the competition you need to register on the official website of the project Genesis hack.

In addition to IBC, hackathons will take partfinancial and technology companies Nucleus Vision, Eleven01, SpringRole, Murmur, XDAT, Nasscomm and Host.Games. Registration of participants began on November 29, on January 20, 2019 the first stage of the hackathon starts. The competition is divided into 5 stages:

  • Stage 1.Development of project ideas and definition of tasks.
  • Stage 2.Charting data and creating a project concept.
  • Stage 3.Release of the working version of the product.
  • Stage 4.Making a list of leaders.
  • Stage 5.Grand Final Genesis Hack.
  • Hackathon executives offer attendeescreate applications based on existing blockchains or develop your own with unique consensus algorithms. 6 months are given for the creation of the software; according to the results of the competition, winners will be determined who will receive a cash award:

  • For 1 place - 30 million rubles.
  • For 2nd place - 15 million rubles.
  • For 3rd place - 7.5 million rubles.
  • The main goal of the Genesis Hack hackathon is todevelopment of blockchain technology and the creation of applications with a high level of security. The organizers of the project claim that since the launch of the Bitcoin blockchain in 2009, hackers managed to steal digital assets totaling $ 10 billion. To change the situation, it is necessary to develop effective measures to counter hacker attacks, only after that the crypto industry will lose the status of the Wild West and smoothly move into a civilized channel.