The Solana hackathon aims to boost cryptocurrency innovation in India.

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Solana invites students, Web 2.0 and Web 3.0 developers, engineers, and anyone interested in getting into crypto to attend.

Solana, a blockchain platform, has issued an open invitation to Building out Loud, a hackathon venture aimed solely at Indian developers and entrepreneurs. According to the official statement, Solana plans to launch the three-week long event in collaboration with Devfolio and YouTube influencer Superpumped.

Solana’s announcement is a free and open invitation to “students, Web2 & Web3 developers, engineers, and anyone looking to get into cryptocurrency organised in collaboration.” The move towards involving India’s open-source community in crypto may come as a surprise to those who are aware of mainstream Indian banks such as ICICI’s ongoing opposition to Bitcoin (BTC). The deadline to apply for the hackathon is August 12.

Solana proclaimed hackathons as the birthplace of crypto startups, saying:

“If you’re an ambitious engineer or developer in India looking to build something, this is the skyhook you’re looking for.”

In addition to cash prizes from a $80,000 pool, winning participants will have the opportunity to raise capital from the Solana Foundation and prominent global investors. This initiative also includes prominent crypto figures and entrepreneurs, such as former Coinbase CTO Balaji Srinivasan, seed investor Chris McCann, and Cred founder Kunal Shah.

See also  This might increase the cost of purchasing Bitcoin and other cryptocurrencies for Indians.

While the hackathon will deploy crypto apps on Solana’s global public chain, Cointelegraph has reached out to Solana to learn more about India’s stance on such initiatives. The company has yet to specify whether it intends to pay winners in cryptocurrencies or fiat currency.

The Solana ecosystem has given birth to a number of crypto apps and projects. Cointelegraph reported in April 2021 on the start of the Solana-native decentralised finance protocol Step Finance’s private token sale for $2 million.

Step Finance arose from a hackathon, much like Solana’s Building Out Loud initiative for India.

 

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