Bitcoin (BTC) Startup Lab introduced the second version of its Bitcoin Olympics Hackathon, the place innovators stand to win over $100,000.
The competitors will pit a number of contestants pitching their concepts for the Bitcoin DeFi and Ordinals motion. It could provide an opportunity for the subsequent technology of concepts that may rework the Bitcoin economic system to emerge.
Collaborating groups within the competitors should submit a 3-minute video pitching their group, the issue they’re fixing, the answer, and the way it will profit customers and tackle a ache level inside the crypto neighborhood. Members should register between August 9 and September 17.
Albert Liang, Bitcoin Startup Lab CEO, advised crypto-news that the occasion “is to assist, reward, and rejoice the progressive spirit of founders and builders on Bitcoin.” Liang additional urged aspiring founders and builders to partake within the Olympics as it could drive the “innovation frontier” inside the BTC ecosystem.
People and groups can apply, with the Bitcoin Olympics permitting people to be a part of a number of groups. The competitors additionally presents matching alternatives for people that enter the competitors to group up with others.
People who register will take part in courses and lectures whereas additionally getting publicity to mentors and consultants. These permit them to fine-tune their concepts earlier than ultimate submission on October 1. The winners will probably be introduced on October 9.
Judging standards embody novelty, potential affect on the Bitcoin neighborhood, technological implementation, proof of curiosity and traction, and presentation high quality.
Though the judges haven’t been introduced, the organizers said they’d be certified professionals from the Bitcoin Startup Labs or exterior consultants.
A number of prizes are up for grabs, with the grand prize being $30,000 from the identify sponsor Sora Ventures. Different Sponsors of the competitors, similar to Rootstock, Interlay, and others, are additionally providing completely different rewards, together with tech-specific prizes and mentorships.
There’s a $20 submission charge, however candidates can waive this by partaking with BTC Startup Lab’s Twitter account and Discord channel.
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