Hanoi, Vietnam – Jun 20, 2023.
Ekotek Technologies proudly announced our participation in the CROSS Value Chain Global Hackathon as the official blockchain partner. With the first stop taking place in Hanoi, Vietnam, awarding a total prize pool of over $50,000, the Hackathon seeks developers to build innovative decentralized applications (dApps) on CROSS Value Chain (CVC), the layer-1 Blockchain that enables escrow node functionality and integrated sustainable decentralized storage.
🔸 More info can be found at the event’s official website: https://hackathon.cross.technology/
A critical challenge for blockchain in general, and blockchain infrastructure in particular, is the trade-off between security and user experience. In existing systems, transaction errors can’t be rectified as blockchain records are irreversible. CROSSTECH offers a solution to this: the CROSS Value Chain (CVC) with the new Voting Proof of Work (VPoW) algorithm, having consensus nodes acting as escrows to minimize end-user mistakes. Simultaneously, the team is developing a Decentralized Autonomous Content Storage (DACS) for digital content that guarantees data integration and permanence, instead of external storage solutions such as IPFS.
The combination of CVC and DACS poses a game-changing approach to blockchain infrastructure, especially the asset tokenization market that is poised to grow to over 16 trillion USD by 2030. To foster technology adoption and application, CROSSTECH will be hosting a Hackathon series all around the world every quarter, with Vietnam as its very first stop.
The hackathon opens to global developers to participate in teams or as individuals. Winners of the Vietnam stop will be announced at the award ceremony hosted on July 28, sharing a prize pool of over $50,000 to be paid in USDT & XCR, CROSSTECH’s official token (1 XCR = 0.11 USD):
- 1st prize: 15,000 USDT & 100,000 XCR
- 2nd prize: 8,000 USDT & 50,000 XCR
- 3rd prize: 5,000 USDT & 25,000 XCR
- 4th prize: 3,000 USDT & 10,000 XCR
- 5th prize: 1,500 USDT & 5,000 XCR
Participants will have the opportunity to get technical and business support from event organizers, and network with like-minded developers and industry experts. Future stops will also be announced shortly, allowing participants to enter the hackathon multiple times, gain more knowledge, and improve their dApps to perfection.
Submissions will be judged on the code quality, implementation plan, and potential impact of the project on the CROSS Value Chain. The judging panel comprises C-level executives within Asia’s blockchain landscape.
“For Web3 to grow beyond an anarchic market, it requires the involvement of developers from any level, from corporate to individual.”
“Our quarterly Hackathon was born as a part of this effort, and with a mission to build a global network of CVC developers, incubating innovative applications to best utilize CVC and DACS’ unique nature. We chose Vietnam as the first stop due to the nation’s active offshore development activities – including ours as well, in partnership with Ekotek Technology. And as Vietnam has attracted and nurtured a huge talent pool, I strongly believe that it will play an important role in the foundation of Web3 in the future.”
Mr. Tokuro Uhara, Co-founder & CEO of CROSSTECH shared.
The hackathon registration opens from June 20 to July 9, and the deadline for project submission is July 23, 2023.
For registration and detailed information, visit https://hackathon.cross.technology/
About CROSSTECH
CROSSTECH is a project consisting of CROSS Value Chain (CVC), an innovative autonomous decentralized blockchain infrastructure, and its ecosystem. The project has raised $10 million in funding and collaborated with various key players in Japan’s blockchain landscape.
By combining autonomous decentralized content storage (DACS / Decentralized Autonomous Content Storage) and a decentralized secure wallet (Xwallet) in blockchain infrastructure, CVC can provide autonomous decentralized infrastructure functions by the realization of data storage and control, which was difficult to achieve with blockchain alone.
About Ekotek Technology
Founded in 2018, Ekotek Technology is a development firm specializing in software solutions and blockchain technology, with headquarters in Vietnam and Japan. In just 5 years of operation, Ekotek has reached impressive heights: 120+ international customers, 200+ successful projects, and multiple global awards.
The company’s strength lies in the tech expert team with experience spanning various technologies and industries, as well as the agile approach to software development, to bring the most optimal solutions to customers in terms of strategy, time, and cost.
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