Harmony Organizes $1M Hackathon To Bridge DeFi and Traditional Finance

Based on the knowledge out there, Concord Hackathon will final for six weeks. The Hackathon will start on August 15, 2021, and ends on September 30, 2021.

Associated Studying | Ether EFT Will get Approval From Brazilian Securities Regulator

There might be three classes, and every one can have 4 challenges for the specialists to finish.

Presently, the organizers, Concord blockchain, have disclosed that the registration for the occasion will begin in August. Additionally, there are multiple million {dollars} out there in seed funds and participant prizes. The corporate made the announcement on Thursday by way of Twitter.

Based on the announcement, the hackathon goals to realize cooperation between conventional finance and decentralized finance.

Moreover, the crew goals at bringing extra individuals from the normal finance sector to deal with the challenges affecting each their trade and the DeFi sector.

A Transient On Upcoming Hackathon

Based on what Concord revealed, the Hackathon will are available in three classes. These classes can have 4 challenges, together with cross-chain & trustless bridges, cross-border with fintech integration, social wallets & keyless safety.

Concord additionally made some statements on Twitter saying that blockchain finance is the place there’s product-market match. Nonetheless, many individuals who created decentralized finance will not be of conventional finance.

Subsequently, Concord goals at bringing extra conventional finance specialists so as to add their information to decentralized finance.

Concord additionally talked about that conventional finance specialists have many issues to show them in DeFi. Likewise, DeFi practitioners may assist them perceive the sector extra and learn to put it to use. So, it will likely be a mutually helpful occasion for each TradiFi and Defi.

Associated Studying | Nifty’s Inc. Companions With Warner Bros To Roll Out A Social NFT Platform

In regards to the occasion, Concord disclosed some individuals who will converse within the occasion or function judges for the individuals.

Based on the blockchain, these individuals embody, Omakase, the core developer of SushiSwap, Lily Liu, the co-founder of Earn.com, the lead for DeFi Alliance Imran Khan, and different distinguished individuals within the trade.

Additionally, the occasion sponsors embody Messari, SushiSwap, CoinGeckom, Unstoppable Domains, DoraHacks, DappRadar, Hummingbot, and The Defiant, a information platform.

A Transient on Concord

Concord is a Sharding protocol that makes use of a “Trustless Ethereum Bridge” to separate its blockchain into completely different segments. These segments are liable for the processing and storage of information in parallel.

The mainnet launched in 2019, and since then, the corporate has partnered with many others to push its operations additional. Additionally, Concord has accomplished many integrations since then as properly. As an example, it added Terra to its blockchain to make use of the token on the apps within the ecosystem.

Associated Studying | Binance CEO Changpeng Zhao States, “Compliance Is A Journey.”

The blockchain disclosed that it might sponsor the Hackathon in June. Based on the blockchain, it goals to succeed in 10 billion customers, which is a approach to obtain it.

The registration will finish on August 15, and groups can solely be 5 individuals. As soon as they reached the submission deadline, the occasion will kick-off.

Featured picture from Pixabay