XinFin: XDC To Sponsor Online Global Hackathon Starting May

Grand Cayman, Cayman Islands, May 26, 2022 (GLOBE NEWSWIRE) -- The XDC Network, which combines the power of public and private blockchains with interoperable smart contracts, has announced it is offering an online global hackathon in cooperation with Devpost and Inac Consulting starting May 25 at 10:00 a.m. ET on Devpost, which powers most of the world’s software competitions on its platform. xdc.devpost.com

The purpose of the hackathon, which continues until July 25 at 5:00 p.m. ET, is to build on the XDC Network’s blockchain.

“The goal is to build decentralized applications, or dApps, for the XDC Network and thus increase the number of dApps, utility and use-cases on the network. There are lot of benefits and possibilities for Devs.”, according to Can Inac from Inac Consulting, and equivalent of $50,000 in prizes will be awarded, with the possibility of participants earning grants and more funding. The prizes will be awarded in four categories:

• DeFi: This includes IDO platform, stable coin (e.g., DAI), price oracle, lending, borrowing, synthetic assets and other DeFi applications.
• Gaming dApps: Play-to-earn (P2E) including NFT integration with the possibility for trading digital property/ game items and, if possible, in-game marketplace for trading NFT.
• Web3: Create other Web3 tools and infrastructure, DAO, tools, decentralized social platforms etc.…
• Ported dApps: dApps that are ported for any of the above categories or disruptive / new dApps ported from other chains benefitting XDC network utility.

First-place winners will receive $7,500, second-place finishers will receive $2,500 and 10 participants will receive $1,000 as honorable mentions. All prizes will be paid in XDC cryptocurrency.

The XDC Network is a Layer 1 EVM compatible network, which means what runs on Ethereum will run on XDC Network. The enterprise-grade XDC Network is compatible with ISO 20022 financial messaging standards and can power a wide range of novel blockchain use cases. Equipped with both public and private states, the XDC Network was designed to meet the needs of enterprises with concerns about information transparency and data privacy. The delegated proof-of-stake mechanism (XDPoS) by which the network reaches consensus allows for two-second transaction time, near zero gas fees and over 2,000 transactions per second prior to sharding. Military-grade security through 2/3 node validation requirements means there is no incentive for bad actors to try and gain access. User-friendly, customizable block explorer and network statistics pages offer unprecedented transparency where required.

For more information and to register for the hackathon, visit xdc.devpost.com

For more information about the XDC Network, visit xinfin.org and xdc.org

About the XDC Network

The XDC Network, the world’s first hybrid blockchain, equipped with both a public state and private sub-networks, enables the protection of personal data while remaining transparent and auditable. The network was designed to meet the needs of enterprises seeking to enhance their business infrastructure, reduce costs and improve visibility through blockchain technology. With interoperable smart contracts, near zero fee transactions and high security, the XDC Network is designed to support a wide range of novel blockchain use cases.