Solana hackathon aims to promote crypto innovation in India

Blockchain platform Solana announced an open invitation to participate in Building out Loud, a hackathon project designed for Indian developers and entrepreneurs.According to the official statement, Solana plan Launched a three-week event in collaboration with Devfolio and YouTube influencer Superpumped.

Solana’s announcement includes free public invitations to “students, Web2 and Web3 developers, engineers, and any cryptocurrency that wants to organize through collaboration.” The move to involve the Indian open source community in encryption may surprise those who are aware of continued resistance to Bitcoin (Bitcoin) from Mainstream Indian banks, such as ICICIThe last date to apply for the hackathon is August 12th.

Solana refers to the hackathon as the birthplace of crypto startups, saying:

“If you are an ambitious engineer or developer in India and want to build something, then this is the sky hook you are looking for.”

In addition to the $80,000 cash prize, the winner will also raise funds from the Solana Foundation and renowned global investors. The plan also includes the participation of well-known cryptocurrency figures and entrepreneurs, including former Coinbase CTO Balaji Srinivasan, seed investor Chris McCann, and Cred founder Kunal Shah.

Although the hackathon will use Solana’s global public chain to deploy encrypted applications, Cointelegraph has contacted Solana to understand India’s position on such initiatives. The company has not yet clarified whether it intends to pay the winner in cryptocurrency or fiat currency.

related: Phantom raises $9 million to launch a multi-chain encrypted wallet

The Solana ecosystem has led to the birth of multiple encryption applications and projects.As early as April 2021, Cointelegraph reported the launch of Solana’s native decentralized financial protocol Step Finance conducts a private token sale at a price of 2 million US dollars.

Step Finance was born in a hackathon Similar to Solana’s “Building Loudly” initiative for India.