BANKEX only recognizes one reason for a blockchain company to refuse an invitation to participate in a hackathon — if their management is not interested in the development of the team and technology. This May, 19–20, BANKEX will hold its unique hackathon called Proof-of-Skill.

What is a hackathon?

The term “hackathon” combines HACKing and marATHON, and represents an event in which programmers and software developers test their skills by cooperating on different tasks in a limited period (usually 24 to 48 hours). The first known hackathon was held in 1999, when ten programmers gathered in Calgary, Canada, to avoid cryptographic software regulations in the USA. Since then, hackathons have become widespread, resulting in increased attention from large companies and venture capitalists.

What is an Ethereum hackathon?

Ethereum hackathons are held to the same format as standard hackathons. The only difference between an Ethereum hackathon and a standard hackathon is that the Ethereum hackathon is dedicated to the development of cryptocurrencies and Ethereum-based projects.

Who can participate in Ethereum hackathons?

Ethereum hackathons welcome all who aim to improve the Ethereum community. Programmers from all over the world apply to participate and contribute by researching and developing new blockchain projects and solutions. Additionally, Ethereum hackathons are aimed at bringing new blood into the blockchain community, and therefore participants do not have to pay to attend these events.

How does an Ethereum hackathon work?

After all the participants are registered and divided into teams, they begin to discuss the objectives they have to complete. Participants can choose to work on tasks they have received from the hackathon organizers or any projects they have specifically brought to complete and have judged. Sometimes participants don’t even sleep at all in order to finish their task in such a limited period. Programmers usually only pause to eat, drink and go to the restroom. To keep from falling asleep they drink gallons of coffee and energy drinks. Thus hackathons are extremely intensive, but still friendly. After the competition ends a team of judges announces the winners in each category.

BANKEX and Hackathons

BANKEX understands the importance of hackathons for the blockchain world. The BANKEX team has taken part in the two largest Ethereum hackathons. At the first hackathon, held in Waterloo, Canada in October 2017, our team developed its implementation of the Plasma protocol. At the second Ethereum hackathon in Denver, February 2018, the BANKEX Foundation team took first prize in two categories.

BANKEX Proof-of-Skill

In the second half of May 2018 BANKEX will organize and hold an Ethereum Proof-of-Skill hackathon in Moscow. The primary purpose of this is to research possibilities for blockchain technology. BANKEX will invite the participants to not only complete several tasks but also to experiment and open new unexplored areas of blockchain.

BANKEX Hackathon will have the following themes:

— Aligned crypto-economy models;

— Blockchain scaling and performance;

— Blockchain-based games;

— New opportunities and new products.

After more than 18 years of development, hackathons are a great way for blockchain companies to fund promising and innovative software and recruit talented developers. Ethereum hackathons, in their turn, help to push forward the blockchain technology and create new avenues of development. That’s why BANKEX is aiming to take part in as many hackathons as possible and to hold and organize hackathons in the near future.