With Build-A-Bull, the Algorand Foundation seeks to boost the development of decentralized applications that take advantage of the possibilities of Algorand
Algorand Foundation, the organization focused on growing the Algorand blockchain ecosystem, has recently announced the holding of a new hackathon under the name of Build-A-BullThe event, which will take place from October 18 to November 15, 2023, seeks to promote the development of new ideas and drive innovation in this ecosystem.
This global virtual hackathon will also feature a $200.000 prize pool to be awarded to all winning teams and will be supported by Algorand Ventures, Circle, Unity, Amazon Web Services (AWS), and Wormhole. Additionally, registration for the event is free and open to anyone.
Driving application generation
Build-A-Bull is a hackathon to build consumer-friendly applications using the power and scalability of the Algorand blockchain. The event is open to developers from around the world who are interested in working with Algorand’s blockchain technology.
Over four weeks, this hackathon will offer an opportunity for committed developers and entrepreneurs to conceive a business concept, accelerate it through the development phase, and ultimately present a final product to a panel of expert judges. Throughout the process, participants will receive matchmaking, tools, support, and mentoring to help them bring their ideas to life.
The Build-A-Bull hackathon will take place online and will be divided into two phases. During the first phase, participants will have to submit a project idea for approval. During the second phase, the selected teams will work on their projects and present their solutions at the end of the event.
Ryan Terribilini, Executive Vice President at Algorand Ventures, commented on the event:
With Build-A-Bull, we hope to attract a new wave of promising builders to enter the Algorand ecosystem. We are looking for high-potential investable founders and startups to bring innovative projects to the Algorand blockchain, and we are confident that the resources and exposure of participating in Build-A-Bull will catalyze this next generation of Algorand builders.
Five spaces for innovation
The Build-A-Bull hackathon will have five innovation spaces that will focus on:
- Defi, presented by Circle
- Games, presented by Unity
- Consumer, brought to you by Amazon Web Services (AWS)
- Interoperability, presented by Wormhole
- Impact, presented by the Algorand Foundation
Each of these slots will select one winner who will receive a $25.000 prize and be invited to pitch to investors at a “demo day,” with a public on-chain vote determining an additional grand prize of $10.000 as well as $25.000 in AWS credits. The second- and third-place winners in each slot will receive $10.000 and $5.000 respectively. Judges will also award an additional $5.000 college prize. The judging panel is comprised of industry leaders and investors, including QCP Capital, DWF Ventures, and Blockchain Capital.
Projects will be evaluated on the following criteria: skill set and team strength, project design and interface, quality of pitch, and feasibility of market adoption.
Introducing the Algorand Foundation
The Algorand Foundation was founded in 2019 by Silvio Micali, a renowned cryptographer and professor of computer science at MIT. The foundation is dedicated to developing Algorand's blockchain technology and fostering its adoption worldwide. Algorand's blockchain technology is a public, decentralized blockchain that offers high scalability, security, and transaction speed.
The Algorand Foundation's mission is to build an inclusive and fair global economy through the use of blockchain technology. The Foundation works in collaboration with a wide range of organizations and stakeholders to achieve this goal. The Algorand Foundation is dedicated to supporting blockchain developers and fostering innovation in the industry. The Foundation offers a variety of resources and tools to help developers work with Algorand's blockchain technology.
With this development, the Build-A-Bull hackathon aims to be an excellent opportunity for blockchain developers interested in working with Algorand’s blockchain technology. The event offers a variety of prizes and rewards, as well as the opportunity to connect with other industry professionals and showcase their talent to potential employers.
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