Solana organizes multiple hackathons annually, bringing developers together and providing funds for up-and-coming projects.
Building the Solana Community
As a low-cost, high-speed rival to Ethereum, Solana offers unmatched transaction throughput in the race to become the ultimate Decentralized Finance (DeFi) network. In addition, both beginners and developers with smart contract or Non-Fungible token (NFT) experience benefit from its high degree of composability.
Throughout the year, the Solana ecosystem organizes multiple hackathons to help developers improve their skills. Also, this way, Solana can bring the crypto industry to more mainstream users.
“The hackathon was an amazing accelerant to build our community, connect with users, and raise funding afterward. We certainly benefitted from the visibility and enjoyed the process greatly as well,” Ayush Menon, Founder and CEO of Katana (grand winner of the Solana Ignition Hackathon), told Web3Wire.
Developers can gain access to the following during the Solana hackathon process:
- A community of people who are passionate about creating in Web3
- Educational events and talks from industry leaders to learn how to build products using innovative technology and primitives
- Financial rewards for achievements
- Connections with Web3 investors, analysts, and fund managers.
“We’ve seen this explosive growth in the Solana ecosystem, and a lot of that doesn’t come from the hackathon, but the hackathons are a focal point to get everyone together to build a product and showcase what they’re working on,” Solana Labs Co-Founder Anatoly Yakovenko said in an interview with Blockworks.
Here’s a list of a few hackathons Solana has organized over the years:
Inaugural Hackathon
To accelerate the already rapid growth of the ecosystem, the Solana Foundation hosted its first online hackathon in November 2020. The two weeks event brought together industry leaders and builders together. Despite Wormhole being the focal point, participants were encouraged to build any project that could impact the ecosystem.
Season Hackathon
The season hackathon ran for three weeks from May-June 2021, bringing crypto pioneers and developers together. More than 13,000 builders registered for the hackathon, and 350 teams submitted projects covering DeFi, NFTs, and Web3. Further, additional regional tracks included East Asia, India, Eastern Europe, Africa, Vietnam, and Brazil.
“We had a great experience, our inception moment was obviously winning the grand prize at the Solana Season hackathon. Additionally, it was a great opportunity to get a group of people together and build something cool,” Tristan, Founder & Core Contributor at Zeta, told Web3Wire. “We are big believers in these hackathons as it’s a great way to kickstart a community and form an early team.”
Ignition Hackathon
The Ignition hackathon ran from Aug. 31-Oct. 15, 2021. Nearly 6,000 teams from around the world submitted 568 final projects to Ignition. Further, Solana Ventures, Microsoft, Jump Crypto, Standard Chartered, Forte, and Metaplex offered $5 million in prizes and seed funding. The Ignition hackathon was later renamed Solana Summer Camp Hackathon. The recent Summer Camp ran July 11-Aug. 16.
“Winning the Solana Hackathon brought us immense recognition within the crypto world. Not only did it give us recognition, but it also increased our brand awareness, in addition to letting us build our networks and forge new affiliations within the blockchain industry,” Alvin Lam, founder of DarleyGo (Community Choice award winner in Solana Ignition hackathon) told Web3Wire.
Riptide Global Hackathon
The fifth Solana hackathon presented new blockchain projects in Payments, DeFi, Gaming, and DAOs. Over 7,000 teams participated in Riptide from Feb. 2-March 17, submitting 550 final projects to the judges. In addition to Visa, Jump Crypto, Samsung NEXT, MonkeDAO and Mango, Solana Ventures offered prizes and seed funding of up to $5 million for the global hackathon.
Hacker Houses
Solana Hacker Houses are five-day offline event with in-person mentoring from Solana Labs engineers and other partners scheduled to run worldwide. The latest event in Stockholm, Sweden, took place from Aug. 24-28.
The event includes informative, educational programming about DeFi, NFTs, and how to get started with Solana. Additionally, you can expect advice and support from core Solana Labs engineers, plus a demo day to compete for local grants.
Solana hackathons have been valuable for the Solana ecosystem. To build a thriving ecosystem, the hackathons are able to connect talented builders and fund young startups.
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Related News
Security on Cryptocurrency Exchanges: Ensuring Asset Protection in the World of Cryptocurrencies
From two-factor authentication to cold storage, discover the essential security measures for protecting your assets on cryptocurrency exchanges.
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article.
Cryptocurrency exchanges play a crucial role in the world of digital assets, providing a platform for the exchange of cryptocurrencies and tokens. However, along with the growing popularity of cryptocurrencies, the security risk on exchanges is also increasing. Hacker penetrations, fraudulent schemes, and cybersecurity threats are becoming increasingly serious issues. Various methods and security measures are applied to protect user assets and ensure the security of trading on crypto exchanges.
1. Two-Factor Authentication (2FA)
Two-factor authentication is one of the primary security measures on cryptocurrency exchanges. It requires not only entering a password but also additional confirmation, such as through a mobile device or email. This additional layer of protection significantly enhances the security of a user's account, as even if a malicious actor manages to obtain the password, they still cannot access the account without the second factor of authentication.
2. Cold Storage
Cold storage involves storing cryptocurrency assets offline, disconnected from the internet. This makes them inaccessible to hackers since physical presence and access to the storage are required to access the assets. Cold storage is one of the most reliable methods of storing cryptocurrencies and is widely used by exchanges to protect large sums.
3. Identity Verification and KYC (Know Your Customer)
Many cryptocurrency exchanges require users to undergo identity verification and KYC procedures to open an account and conduct trading operations. This allows the exchange to more accurately identify its customers and prevent fraud, as well as comply with regulatory requirements regarding anti-money laundering and counter-terrorism financing.
4. Multilayer Security System
Cryptocurrency exchanges often employ multilayer security systems, including network protection, transaction monitoring, intrusion detection, and automatic shutdown of suspicious activities. This helps to promptly respond to potential security threats and prevent possible attacks.
5. Secure Password Storage Methods
Cryptocurrency exchanges should provide secure password storage methods for users, such as hashing and salting, to protect them from unauthorized access. This helps prevent password leaks and account breaches.
6. Regular Audits and Penetration Testing
Regular security audits and penetration testing are necessary to assess the level of exchange security and identify vulnerabilities. This helps prevent potential attacks and improve overall security.
7. User Security Training
Cryptocurrency exchanges should provide educational materials and user guides on security basics to help users independently protect their accounts and assets. This includes recommendations for creating strong passwords, using authentication apps, and dealing with phishing attacks.
8. Geographic Server Distribution and Data Backup
Cryptocurrency exchanges can use geographically distributed servers and data backup systems to protect against unforeseen failures or attacks, ensuring continuous availability and preservation of user assets.
Conclusion
Security on cryptocurrency exchanges is an essential aspect of using digital assets. Security measures such as two-factor authentication, cold storage, identity verification, and others play a crucial role in protecting user assets and preventing cybersecurity threats. The development and improvement of these methods are key aspects of ensuring security on cryptocurrency exchanges in the future.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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