Reverse Engineering the Future: Bitcoin.com Crew Members Weigh In on ETHGlobal Tokyo Hackathon

The ETHGlobal Tokyo hackathon drew to an in depth on Sunday, as builders from world wide competed for $375,000 in prizes. The occasion was kicked off with the first-ever ETHGlobal “Pragma” summit, sponsored by Verse, amongst others. Engineers and representatives from Bitcoin.com additionally took half within the summit and hackathon, and shared their ideas on the occasion and its significance for crypto and financial freedom proper now, and within the close to future.

A Pragmatic Begin: From Summit to Hackathon

The primary-ever “Pragma” summit occurred on April 13 in Tokyo, Japan, because the kick-off to the broader ETHGlobal Tokyo hackathon, sponsored partially by Verse. Audio system comparable to Aya Miyaguchi from the Ethereum Basis and writer Balaji Srinivasan spoke on the occasion. The hackathon ended Sunday and noticed participation from Bitcoin.com’s engineers and representatives.

Director of engineering at Bitcoin.com, Andrei Terentiev, who oversees the corporate’s 30+ sturdy engineering crew, famous he was “tremendous excited for the ETH international hackathon, particularly since Japan has been closed right down to outdoors guests for the previous three years or so, it’s a fantastic likelihood to fulfill extra of the worldwide cryptocurrency neighborhood and share new concepts that can push ahead the cryptocurrency ecosystem as an entire.” Terentiev continued:

Total I feel most members within the occasion are all striving in direction of the identical mission of cryptocurrency which is to create extra financial freedom for the world. So having the ability to meet up in particular person helps unfold these concepts and flourish internationally.

Information engineer at Bitcoin.com, Bolun Zhang, mentioned of the occasion: “Being a tech man, I’m all the time excited about maintaining with the newest tendencies within the trade and exploring cool tasks being undertaken by my friends.”

$375,000 in prizes had been obtainable from myriad trade gamers and platforms like 1inch Community, Gnosis Chain, Metamask, and extra.

Web3, Reverse Lotteries, and Prediction Markets

“On the occasion, we’ll be constructing what we’re calling a decentralized lottery,” progress advertising and marketing specialist at Bitcoin.com Alun Stern advised Bitcoin.com Information simply previous to the hackathon. The primary a part of the appliance is “sort of like a reverse lottery … in a standard lottery, one particular person wins, and everybody else loses. On this system, everybody will win, and one particular person will lose. The loser’s funds will get distributed throughout the successful members.”

Stern defined that the crew can be designing the lottery in such a means that the loser would get a uncommon NFT. The second a part of the app works equally to prediction markets, he mentioned, noting:

Any individual will be capable of suggest an occasion, they’ll assign an arbiter, and they’re going to assign a number of selection choices … The attention-grabbing factor about this isn’t solely are these prediction markets used for individuals to guess on future outcomes — they may also be used to affect the longer term and mainly change the longer term.

Stern defined that somebody prepared to pay sufficient cash may guess that an influencer on social media wouldn’t promote a challenge, incentivizing mentioned influencer to just do that.

Forward of the occasion, a software program engineer on the internet crew at Bitcoin.com, Julie, emphasised that the hackathon would supply many advantages, together with getting individuals extra aware of the burgeoning world of Web3. She commented:

[The hackathon] will give us a chance to share concepts and work with completely different individuals on attention-grabbing new merchandise that may assist customers to onboard into the crypto world, in addition to assist builders hone their abilities and dive into Web3 in the event that they didn’t have any expertise with it earlier than. It is going to be nice to see what everybody comes up with!

The Bitcoin.com crew wrapped up the occasion with an implementation prize from Scroll, a “zkEVM-based zkRollup on Ethereum that permits native compatibility for present Ethereum functions and instruments.”

What are your ideas on the ETHGlobal Tokyo hackathon? Have you ever ever participated in a hackathon earlier than? Make sure to tell us within the feedback part under.