https://ift.tt/IoeOXEh Fest: Co-Presented by the Ergo Foundation and ErgoPad

ErgoHack will take place from May 9 – May 30, 2022.

Ergo Hackathons have become a principal and defining feature of the community over the last year. In just a short amount of time, ErgoHacks have helped build tools and dApps that are now key pieces of infrastructure in the Ergo ecosystem. Though these events started out as competitions, one of the greatest outcomes has been the retention and expansion of community developers actively working to build DeFi on Ergo. 

For the next ErgoHack, we are pleased to announce that the Ergo Foundation and ErgoPad (Ergo’s IDO launchpad) are partnering to present this event over a three week period. The schedule for this hackathon will have the first week focus on ideas and proposals, followed by a two week window where participants will develop, make improvements and build prototypes. As has been in the past, the competition will welcome solo and team participants (of up to 6 people in the group) to the Ergo Discord Server. There, participants can chat with mentors and find other possible teammates (if they are looking for additional members).

Hackathon participants will be free to pursue and build projects that span a variety of DeFi use cases. However, this time the event will not only focus on new projects, but also encourage proposals to improve pre-existing ecosystem projects. As a result, we invite entries from developers, entrepreneurs and professionals from other fields who have ideas that they would like to pursue. If you are new to Ergo and Ergoscript, we are pleased to announce that DeCo (formerly ErgoLearn) will be active partners in providing educational materials from their online courses. For more information about DeCo and the courses they offer, please visit their Discord Server. 

As a previous participant in ErgoHack II, ErgoPad is an ideal partner for co-hosting ErgoHack Fest. ErgoPad encourages ecosystem growth and development by offering investors and developers the ability to come together to fund the development of new projects. When ErgoPad hosts an IDO to help developers raise capital, investors are granted ground floor access to the project. ErgoPad has its own token, enabling holders access to various tiers of investment opportunities for new projects. For more information on ErgoPad, please visit their website.

Are you ready to build the future of blockchain? Please visit the ErgoHack website for more information and submit your application here.

Prizes

1st – 10,000 SigUSD + 100,000 $ERGOPAD

2nd – 6,000 SigUSD + 50,000 $ERGOPAD

3rd – 2,000 SigUSD + 30,000 $ERGOPAD

Additional prizes include several honorable mentions worth 200 SigUSD and 100 ERGOPAD for every active member. 

Ergo Platform

Like Bitcoin, Ergo is a Proof of Work blockchain developed on the UTXO model. However, Ergo is referred to as an extended UTXO blockchain because its native language (ErgoScript) and application of Sigma Protocols enable expressive, smart contract functionality. With Ergo, developers are able to design applications that allow for light clients and side chains through the implementation of NIPoPoWs (Non-Interactive Proof of Proof of Work). The blockchain allows for things such as ring signatures, multi-ring signatures, self-replicating scripts and advanced optional privacy features.

The blockchain was launched as a platform for everyday individuals and its founders drew inspiration from the first principles of crypto. Ergo is a direct response to legacy institutions and the weaponization of money through traditional finance. True to its founding ideals, Ergo had a fair launch with no pre-mine and no pre-allocation of tokens to any founders or investors.

The Ergo Manifesto and the desire to address socio-economic injustice are driving forces behind the development of Ergo’s dApps. The tools built on Ergo are intended to help empower the average citizen while promoting decentralized systems that ensure trustless frameworks.

For more information and to take a deeper dive into Ergo, please visit the following overview of the ecosystem.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.