Since Russian President Vladimir Putin expressed involvement inwards Ethereum at his coming together amongst Vitalik Buterin at the World Economic Forum held inwards St. Petersburg, the blockchain manufacture inwards Russian Federation has been quick to oestrus up. The Blockchain & Bitcoin Conference inwards Saint Petersburg was held inwards June, followed at i time past times a blockchain-focused hackathon called BlockchainHack inwards Moscow, amongst 150 people inwards attendance competing for $100,000 worth of cryptocurrency.
The hackathon took house at the Paveletsky Art Center, a massive edifice inwards downtown Moscow that has top away the de facto hub for blockchain engineering inwards Russia, amongst an increasing publish of blockchain developers too enthusiasts who move out of it. The lawsuit was jointly organized past times BTC Media, Qtum, Zerion, Waves, the Token Fund too Blockchain School, amongst additional back upward from the community inwards Russia.
The teams presented ambitious demos amongst winning topics including a mobile application to rail too invest into ICOs; an arbitration service based on smart contracts too a reputation system; facial recognition software to decide what ICOs too blockchain projects a blockchain developer has been involved inwards too is currently active with; amid others.
The winning team, Wafer, presented a demonstrate too vision of creating a distributed Wi-Fi network using blockchain technology. They effectively allow routers to sell traffic without beingness tied to a detail software on the device. It uses smart contracts to ensure that users all pay for their traffic too that a user is guaranteed to larn access to the mesh afterwards payment.
Qtum was the largest sponsor of the hackathon, too amongst members of the Qtum Foundation inwards attendance, many of the developers deployed their applications to Ethereum equally good equally Qtum. Qtum is a hybrid blockchain that merges the UTXO transaction model of Bitcoin amongst the EVM on Ethereum. It began equally a fork of Bitcoin too the squad added inwards an abstraction layer to integrate the EVM, ultimately allowing whatsoever developer tool built for Ethereum to also hold upward available on Qtum, including Solidity smart contracts too Web3. Because of this, many of the decentralized applications presented were built on Ethereum equally good equally deployed to the Qtum testnet.
Prize money was awarded inwards Qtum tokens, Waves tokens too ether (ETH): equally the grand prize winner, Wafer took habitation 5,000 Qtum tokens, valued at over $50,000. Qtum also awarded 2 other teams amongst 2,500 too 1,000 tokens for minute too 3rd prize.
Waves awarded their top iii picks amongst 500 Waves, 300 Waves too 100 Waves, respectively. The winning Waves squad developed a platform that uses facial recognition software for investors to apace decide which ICO projects a individual has been involved in.
The winning projection inwards the Ethereum category, equally selected past times Zerion, created an interface for investors to apace invest inwards multiple ICOs, too was awarded 10 ETH.
Patrick Dai, the cofounder of the Qtum project, said to Bitcoin Magazine, “We tin see why this was the largest blockchain hackathon inwards Russia. Lots of developers brought novel ideas to the table. We desire to promote these projects that tin select the globe closer together too spur innovation. We intend that’s the role of blockchain technology, too it’s our role at Qtum.”
Alex Bash, i of the cofounders of Zerion, told Bitcoin Magazine, “I personally was actually inspired past times the persuasion of Wafer, a squad that implemented a protocol that allows users too routers to part mesh [access]. Their persuasion is based on smart contracts that guarantee the fair prices too weather condition for both parties. Also the Lapti squad who developed a production that processes diverse cryptocurrencies, generates a hot wallet for each user too aggregates their payments to a unmarried wallet afterwards collection of statistics too analytics.”
Every i of the 25 teams that participated presented a demonstrate of the software they had created over the weekend.
“Overall, I intend it’s a skillful termination for the hackathon, that virtually of the teams non alone came upward amongst interesting ideas, only developed existent products too solutions during the weekend,” said Bash.
Rodion Mikhalev, the manager of the Blockchain Education Network inwards Russia, attended both the conference inwards Leningrad too the hackathon inwards Moscow. He said that he expects the community inwards Russian Federation volition top away on to grow real quickly.
“The Russian Government approved the entire concept of cryptocurrencies a few weeks ago, too a novel manufacture inwards Russian Federation has been unleashed surrounding blockchain technology,” Mikhalev told Bitcoin Magazine. “At the hackathon, nosotros witnessed something novel too extraordinary: a combination of smarts too digital conception too a feel that through the evolution of blockchain technology, nosotros volition see Russian Federation apace ascension equally a powerhouse inwards the tech world. There volition hold upward a lot of positive products too services adapted to blockchain engineering at a rapid pace.”
What happens side past times side inwards regard to blockchain evolution inwards Russian Federation remains to hold upward seen, equally in that place are even too then few blockchain companies that operate inwards the country. One affair nosotros tin hold upward for sure of though is that the engineering is at nowadays high on their radar.
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