The Swiss-based Bitcoin Association has announced the three finalists of the Bitcoin SV Hackathon for the latest competition that sees a prize pool of $100,000 in BSV.
The Bitcoin SV Hackathon
According to reports, the Bitcoin SV Hackathon involves developing peer-to-peer applications from any industry on the Bitcoin SV network, which is one of the forks of BTC.
Specifically, participants are tasked with leveraging SPV Channels to facilitate communication across the network and interact with the Bitcoin SV network directly via the Merchant API (mAPI). Of note, both SPV Channels and mAPI are tools offered solely on the BSV network.
The three developer finalists for this fourth edition are:
- Bitcoin Phone – an application for transmitting voice data on the Bitcoin SV blockchain that leverages the non-finality of nSequence to enable near real-time data streaming. [Joe Thomas – Canada]
- CATN8 – a micropayment-enabled online video platform with a full peer-to-peer SPV wallet implementation. [Marcel Gruber – Canada; Dave Foderick – United States; Thor]
- TKS Pnt – a point tokenization system for use by merchants and their customers. [Meta Taro – Japan]
$100,000 in Bitcoin SV: the prize pool for the peer-to-peer final
Bitcoin Phone, CATN8, and TKS Pnt will be invited to present their upcoming projects for the finals during the upcoming CoinGeek New York conference, held from October 5 to 7.
And right on October 7, first, second and third place will be announced.
The total prize money up for grabs of $100,000 in BSV will be divided into $50,000 in BSV for first place, $30,000 in BSV for second and $20,000 in BSV for third respectively.
In this regard, Jimmy Nguyen, founding president of the Bitcoin Association, commented:
“The peer-to-peer nature of Bitcoin’s original design is one of its most important features to enable scalability to high transaction volumes efficiently, but it is too often overlooked by developers and commentators who have turned BTC into a digital store of value that is not used for everyday business. This is precisely why we chose to make peer-to-peer functionality an integral component for all entries in this year’s Bitcoin SV Hackathon – and with impressive results. The final three entries each took a unique approach to what unique functionality can be achieved with a peer-to-peer distributed data and payments network, which is safe to do, a fascinating final competition at CoinGeek New York in October.”
Bitcoin SV and Bitcoin Association for Developments on Bitcoin
Bitcoin SV is a hard fork of Bitcoin that occurred on November 15, 2018, and aims to make the Bitcoin network more scalable.
The Bitcoin Association is a global industry organization that works to advance business on the Bitcoin SV blockchain. And it does just that by bringing together the essential components of the Bitcoin SV ecosystem, from enterprises, startups, and developers to miners, merchants, and service providers.
The goal is to improve but also spread the use of BSV. BSV is currently in the top 50 cryptocurrencies by market capitalization, with a total market cap above $3 billion but a dominance of only 0.15% across the entire cryptocurrency market.
Among the various supporters of BSV, such as the Bitcoin Association, there is also Unbounded Capital, an American fund that earlier this year had said it was optimistic about both Bitcoin SV’s plans and the trend of its price.
And looking at the chart just of BSV’s price from January 2021, during the bull run of April 2021, BSV touched its ATH, reaching 411 dollars. Then followed the collapse (felt a bit by all cryptocurrencies) until the current price of 167$.