Reverse Engineering the Future: Bitcoin.com Team 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 Start: From Summit to Hackathon

The first-ever “Pragma” summit happened on April 13 in Tokyo, Japan, because the kick-off to the broader ETHGlobal Tokyo hackathon, sponsored partially by Verse. Speakers resembling Aya Miyaguchi from the Ethereum Foundation 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 group, famous he was “tremendous excited for the ETH international hackathon, particularly since Japan has been closed right down to exterior guests for the previous three years or so, it’s an excellent probability to satisfy extra of the worldwide cryptocurrency group and share new concepts that can push ahead the cryptocurrency ecosystem as an entire.” Terentiev continued:

Overall I believe most members within the occasion are all striving in the 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 the world over.

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

$375,000 in prizes have been obtainable from myriad business gamers and platforms like 1inch Network, Gnosis Chain, Metamask, and extra.

Web3, Reverse Lotteries, and Prediction Markets

“At the occasion, we’ll be constructing what we’re calling a decentralized lottery,” development advertising specialist at Bitcoin.com Alun Stern informed Bitcoin.com News simply previous to the hackathon. The first a part of the applying is “form of like a reverse lottery … in a standard lottery, one particular person wins, and everybody else loses. In this technique, everybody will win, and one particular person will lose. The loser’s funds will get distributed throughout the profitable members.”

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

Somebody will be capable of suggest an occasion, they are going to 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 folks to guess on future outcomes — they can be used to affect the long run and principally change the long run.

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

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

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

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

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