$ADA: EMURGO’s Record-Breaking Cardano Hackathon Offers $2 Million Prize Pool

Earlier at this time, Ken Kodama, Founder and CEO of EMURGO, the official business arm and founding member of the Cardano blockchain, shared just a few noteworthy updates from the crypto house final week.

He offered the next recap by way of a series of tweets:

1. EMURGO introduced the largest-ever Cardano hackathon organized by a founding entity, providing as much as $2 million in prizes. Contributors can select from three tracks: DeFi Derivatives, Aggregators, and Zero-Data (ZK). Final month, EMURGO hosted a enterprise pitch/mini-hackathon in Thailand in collaboration with Bitkub, Thailand’s digital asset chief. Subsequent month, EMURGO is about to launch the Cardano EMURGO BUILD 2023 Hackathon in partnership with DoraHacks, the world’s most energetic multi-chain Web3 developer group. The occasion will likely be on-line and open to all members.
2. EMURGO and IOG plan to co-host two CIP-1694 workshops in Tokyo (June) and Edinburgh (July) to debate Cardano’s decentralized governance. Group members are inspired to host native workshops for his or her communities, with monetary assist obtainable.
3. Emurgo Africa, EMURGO’s regional entity, and PwC have introduced a June launch occasion for the first-ever analysis report on Africa’s Web3 panorama.

On April 20, Kodama shared a LinkedIn note outlining the newest traits and progress within the Cardano ecosystem. He famous substantial development in a number of areas, together with developer exercise, decentralization, stablecoins, DeFi, and person empowerment.

Based on Kodama, Cardano has ranked among the many prime three blockchain networks by way of developer exercise on GitHub for the previous two years, as reported by blockchain intelligence agency Santiment AG. Cardano’s decentralization has additionally improved with the current Dynamic P2P Nodes improve, enabling stake swimming pools to function extra effectively.

Moreover, Kodama highlighted the rising variety of Cardano native stablecoins being launched, which play a vital position in offering liquidity and serving as a quicker various to conventional cost processors. He additionally famous the fast development of Cardano’s DeFi ecosystem, with the whole worth locked (TVL) within the community reaching all-time highs.

Lastly, Kodama emphasised energetic funding initiatives aimed toward empowering Cardano customers, together with Adaverse, a Cardano accelerator targeted on Africa, and NODO, a pan-African information and discovery platform. Each initiatives intention to supply funding, mentorship, and assets for the expansion of Web3 companies in Africa. CardanoSpot serves as a social platform for the Cardano group to attach and entry info.

In March, EMURGO established a strategic partnership with Bitkub Change, Thailand’s largest cryptocurrency alternate, and Bitkub Academy, the nation’s main digital asset training hub, to spice up Cardano’s presence and adoption within the area. The collaboration goals to foster community-building and academic initiatives. Bitkub Change, which holds a authorized license from Thailand’s Securities and Change Fee, has turn out to be one of many nation’s first unicorn startups, whereas Bitkub Academy is devoted to providing equal entry to cryptocurrency information by way of numerous instructional initiatives.

Collectively, they plan to advertise Cardano’s blockchain ecosystem and Web3 in Thailand by organizing Web3 enterprise competitions for proficient youth and college college students, offering profession alternatives in Web3, and exploring potential use circumstances for Cardano ecosystem tasks, equivalent to stablecoins. EMURGO CEO Ken Kodama expressed his optimism concerning the partnership, stating that it could “open additional alternatives, drive training and improvement, and additional cement the place of the Cardano ecosystem in Thailand with Bitkub because the native accomplice.”

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