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The Solana Foundation has announced that it is launching a global hackathon focused on Web3, DeFi, and NFT solutions.
Solana claims to be the world’s first web-scale blockchain that delivers layer 2 performance with layer 1 security and simplicity. It claims to achieve massive performance leaps through a set of coordinated optimizations that reach deep into how code compiles at the processor level. It currently supports 50-65k transactions per second and 400ms block times, with 50 nodes on its public testnet. It is specifically built to scale transaction throughput without sacrificing decentralization or security. The core Solana innovation is Proof of History (POH), a globally-available, permissionless source of time in the network that works before consensus.
The Solana Season hackathon will take place over the course of three weeks starting on May 15. The hackathon will be open to teams across the globe, with regional and use case/vertical tracks in China, India, Eastern Europe, and Brazil.
It will have a global prize pool of $400k as well as potential seed funding, adding up to $1 million in prizes.
It will also have notable judges and speakers such as Balaji Srinivasan, Kevin Rose, Sam Bankman Fried, Robert Leshner, Anatoly Yakovenko, and more.
There will be additional prizes for regional tracks including Eastern Europe track which will have a $155k prize pool with contributions from Hacken, Gate.io, Serum, Velas, HAPI, and Akash Network. China track with $125k in prizes coming from Solana Foundation, Serum, and Raydium. India track which will have a $50k total prize pool and contributions from Solana Foundation, Devfolio, and CoinDCX. Brazil will see a $25k prize pool with support from BRZ Brazil, Foxbit, Bitpreço, NOX Bitcoin, and Alterbank.
“It is exciting to watch the blockchain ecosystem adapt as it continues to make significant progress. That is why we are hosting a third hackathon,” said Anatoly Yakovenko, President of the Solana Foundation. “We want to be a part of the development of projects spanning across nations as we believe they will be invaluable in unlocking the potential of blockchain. It is the foundation’s goal to provide the additional help these projects need to support and grow our community.”