We are delighted to be able to announce that Elrond is joining the 2021 Moralis Hackathon as an official partner!
Elrond Network – Official Moralis Hackathon Partner
We at Moralis are overjoyed to disclose Elrond as an official 2021 Moralis Hackathon partner. The Moralis Hackathon is now live and will remain open until its deadline on June 15th, 2021. Specifically, the Moralis Hackathon will let any willing contestants test their skills in developing Web3 applications. What’s more, participants will compete for a total prize pool of $50,000!
”The Moralis hackathon is set up to attract some of the best devs in the blockchain space at a time when the Elrond tools are live and ready. We’re excited to see how talented builders will use our devkit to unleash their creative ideas.” said Beniamin Mincu, Elrond CEO.
”Partnering with Elrond for the Moralis Hackathon was a no-brainer for us,” added Ivan on Tech, Moralis CEO. ”It will be great to see what the community is able to build and what exciting ideas they come up with.”
In the 2021 Moralis Hackathon, developers will face off against each other in developing Web3 applications (dApps). Once the hackathon wraps up on June 15th, a jury will decide three winners among the submitted projects. The grand prize consists of $30,000, while the first runner-up gets $15,000, and the second runner-up will win $5,000. As such, three lucky projects will be appointed winners of the 2021 Moralis Hackathon.
Moralis allows frontend developers to develop Web3 applications and cross-chain dApps without needing to worry about the backend. Instead, Moralis supplies you with a free, fully managed, and infinitely scalable backend infrastructure for building Web3 applications fast and efficiently.
Elrond Hackathon Example Use Case
Be sure to take a closer look at Elrond’s SDKs and tools when you start thinking about your idea for the Moralis Hackathon. We strongly encourage hackathon participants to use Elrond’s innovative technology, SDKs, and APIs to build their hackathon project. Now it’s up to you to come up with what you want to develop!
What is Elrond Network?
Elrond’s goal and vision is to (a) create the backbone for a high bandwidth, low latency global financial system, (b) that is decentralized, and (c) give anyone, anywhere easy access to it. Elrond achieves this unified vision by employing innovative technologies and products in order to onboard the next billion people into this space.
The first layer is Elrond’s internet scale blockchain, which performance rivals that of Web 2.0 but with added decentralization, capable of 15k TPS (263 in public testnet, scalable via state sharding), with 6-sec latency and $0.001 transaction cost. This is possible through important tech breakthroughs like Adaptive State Sharding and Secure Proof of Stake. If you want to read more about Elrond’s architecture, click here.
On top of this, Elrond adds a UI layer that offers a seamless mobile experience to access the new financial system defined by the Elrond network. The name of this application is Maiar, and in the 2 months since launch, it already has over 270k users. The app can be found at maiar.com. To tie everything together, Elrond’s network makes use of its EGLD token. Elrond positions EGLD as a robust store of value like gold, but with mechanics and functionality going well beyond that of gold. Read more about EGLD here.
Elrond’s native token EGLD benefits directly from the adoption of the network’s rapidly expanding ecosystem, with over 120 strategic partners including the likes of Binance, Samsung, 35+ DeFi projects, several bridges, Swap platforms, and several strategic projects building on Elrond. Moreover, to truly augment the ecosystem, Elrond has developed a very powerful token standard that enhances NFTs and along with developer smart contract royalties, creates the next generation of DeFi. The ESDT standard enables the creation of custom tokens as fast and as scalable as the native EGLD token itself. Learn more about it here.