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Bitcoin Olympics invites Bitcoin visionaries to contest in $100,000 hackathon
The hackathon would provide a chance for the next generation of ideas that will transform the Bitcoin economy to emerge.
2 min read
Updated: Aug. 14, 2023 at 8:43 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin (BTC) Startup Lab announced the second edition of its Bitcoin Olympics Hackathon, where innovators stand to win over $100,000.
The competition will pit several contestants pitching their ideas for the Bitcoin DeFi and Ordinals movement. It would provide a chance for the next generation of ideas that will transform the Bitcoin economy to emerge.
Participating teams in the competition must submit a 3-minute video pitching their team, the problem they are solving, the solution, and how it will benefit users and address a pain point within the crypto community. Participants must register between August 9 and September 17.
Albert Liang, Bitcoin Startup Lab CEO, told CryptoSlate that the event “is to support, reward, and celebrate the innovative spirit of founders and builders on Bitcoin.” Liang further urged aspiring founders and developers to partake in the Olympics as it would drive the “innovation frontier” within the BTC ecosystem.
Individuals and teams can apply, with the Bitcoin Olympics allowing individuals to be part of several teams. The competition also offers matching opportunities for individuals that enter the competition to team up with others.
Those that register will participate in classes and lectures while also getting exposure to mentors and experts. These allow them to fine-tune their ideas before final submission on October 1. The winners will be announced on October 9.
Judging criteria include novelty, potential impact on the Bitcoin community, technological implementation, proof of interest and traction, and presentation quality.
Although the judges have not been announced, the organizers stated they would be qualified professionals from the Bitcoin Startup Labs or external experts.
Several prizes are up for grabs, with the grand prize being $30,000 from the name sponsor Sora Ventures. Other Sponsors of the competition, such as Rootstock, Interlay, and others, are also offering different rewards, including tech-specific prizes and mentorships.
There’s a $20 submission fee, but applicants can waive this by engaging with BTC Startup Lab’s Twitter account and Discord channel.
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Posted In: Bitcoin, Technology
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin Startup Lab
Bitcoin Startup Lab is a pre-accelerator dedicated to fostering early-stage startups in the Bitcoin ecosystem.