Vite Labs, builders of Vite, a DAG-based smart contract blockchain platform, has announced the launch of its inaugural hackathon with rewards of up to $1M in native VITE tokens. This hackathon is an open invitation to blockchain developers around the world to help build the Vite ecosystem.

The hackathon will be running from June 16, 2021, until July 7th, 2021.

“Come build on the Vite network! Vite Labs is a proud sponsor of Gitcoin’s Grants Round 10 Hackathon and will be giving away rewards up to 1 million VITE. Vite is the world’s first working DAG-based smart contract platform. We designed and built the Vite mainnet from the ground up to enable lightning-fast transactions with zero fees. To accommodate the asynchronous structure of Vite, we created the programming language Solidity++ based on the original Solidity. Vite uses Hierarchical Delegated Proof of Stake (HDPoS) as the consensus protocol and a Snapshot Chain to ensure network security. In addition, we have piloted a unique Quota system that facilitates free transactions as well as provides an extra layer of security. Within the Vite ecosystem, we have built a decentralized exchange ViteX, the first of its kind based on DAG.”
– The Vite Labs Team

Reasons to Build on Vite

Unique and differentiated platform based on DAG that enables free and fast payments and smart contract transactionsExisting products to build on (e.g., ViteX)Dev support/toolingA passionate and growing communityAn opportunity to join Vite full-time

Prizes

Hackathon participants can define their own tasks. The Vite team is broadly categorizing all tasks into the following three types. Below are a few examples for each type as a reference. Prizes will depend on the usefulness, quality, and creativity of the completed projects.

1. Infrastructure Category (examples below, participants are free to propose their own)

General improvement of Vite protocolEVM compatibilityAsynchronous Smart Contract programming language specification and compiler implementationIDE: Remix / Truffle integration.Mobile Wallet (Android / iOS)Prize Guidelines:

Significance of system improvementThe seriousness of bugs identified2. Application Category (examples below, participants are free to propose their own)

Payment gatewaysAMMPrediction marketSocial walletVanity addressDecentralized staking poolPrize Guidelines:

CreativityUsabilityAbility to attract more users to Vite3. ViteX Category (examples below, participants are free to propose their own)

Custodial gateways (based on Rosetta API)On-chain VX dividend distributingLight-weight REST/Websocket API for ViteXTrading bots (based on Hummingbot)Prize Guidelines:

Increase ViteX volumeAttract more usersAll prizes will be awarded based on the quality of submissions. If a submission under a category does not meet the expectations of a certain prize tier, Vite Labs reserves the right to withhold rewarding a prize for that tier.

Judges will evaluate a submission from three aspects, aside from basic requirements such as working code, successful demo, etc.

1. Usability

Generally speaking, a top-ranked entry serves a compelling use caseIn the case of submission of a product, a top-ranked entry has a strong value proposition with clear user adoption (perhaps as validated by existing products)In the case of submission for infrastructural development, a top-ranked entry addresses an important need or solves a critical problem for the Vite network2. Rigor

A top-ranked entry demonstrates strong technical proficiencyCode is clean, organized, extensible, and has great documentation3. Creativity

Bonus points for finding a niche (but useful) problem or devising a creative way to solve a problem

Bounties

Below are defined tasks with their own set directions and requirements.

Bounty 1: Create a DAO Governance Tool for Vite ($2,500 in VITE)Bounty 2: Implement Rosetta Node API for Vite to allow easier integration with the Vite blockchain ($3,000 in VITE)Bounty 3: Create a Quota Bank for Vite ($2,500 in VITE)Bounty 4: VitePay module that allows easy e-commerce payment via Vite network ($2,500 in VITE)

Judges

Participants will receive advice and support from Vite’s team of judges. In addition to the Vite team, the following industry experts will be guest judges of this event.

Sebastian Gawenda — Kraken

Read More

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By: CryptoNinjas.net
Title: Vite Labs launches inaugural blockchain hackathon — up to $1M VITE in rewards
Sourced From: www.cryptoninjas.net/2021/06/15/vite-labs-launches-inaugural-blockchain-hackathon-up-to-1m-vite-in-rewards/
Published Date: Tue, 15 Jun 2021 10:04:45 +0000

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