The Gitcoin Hackathon is giving blockchain developers have a chance to showcase themselves in the next two weeks. Developers are welcome to actualize their visions with a chance of sharing in a bounty.
The Gitcoin Hackathon started today June 15, 2020, and runs until June 22, 2020. Developers will compete for a bounty of over $6,000 in prizes. The participants will be required to build applications using shielded Zcash. They will have the privilege of leveraging existing application libraries such as the SDK mobile wallet. The objective is to have them create new ways of using shielded transactions. The invitation to join stated:
“Gitcoin fundamentally believes that individuals should have control over their data and their actions online. Robust privacy tools are critical for making this a reality. To get the future we want, we need user-oriented privacy and authentic collaboration between organizations who care about these rights.”
Exciting and Useful
As per the invitation for submissions, all participants should work on an open-source project. They will develop an App that can do something that’s both exciting and useful. Similarly, their App should appeal to a broad audience to have the chance to score better. Participants will have to include a product brief, project summary and team bios when making their submission. Crypto expert Sydney Ifergan tweeted:
“There is a lot of research happening in terms of the Zcash Network privacy approach, the ZF grants make it happen.”
The world of blockchain and cryptocurrency is crying for increased privacy at a time when crypto adoption is on the rise. This has created a fertile ground for App developers to guarantee users of their privacy when using different applications. There are also challenges relating to scaling when providing security in networks. The Gitcoin Hackathon is giving developers a chance to address such issues.
Earn For Their Hard Work
Our generation that rarely incentivizes open-source codes. Gitcoin has created a fertile ground for developers and designers to earn for their hard work. By issuing bounties, projects get to leverage Gitcoin’s web specialists to pick the individual with the best skills. The grants play a significant role in the ecosystem at large, unlike equity or token sales.
Grants are primarily philanthropic since they are not tied to an expectation of future profiteering. Likewise, the pressure surrounding Gitcoin grants are broadly positive when you look at the bigger picture. The teams behind the grants strive to make compelling cases for they should receive the prize, therefore motivating them to do nothing but the best. The idea is more guided than unsystematically funding speculative bets like we experienced with the ICO boom back in 2017.