Exploring new SPV/P2P applications: The 4th Bitcoin SV Hackathon begins

The coding round for the fourth Bitcoin SV Hackathon has begun! The event, sponsored by Bitcoin Association in partnership with nChain, has a total prize pool of US$100,000 and will run until July 26, 2021, when an expert judging panel will decide three finalists. The theme for this event is “peer-to-peer applications.”

Similar to the third Bitcoin SV Hackathon and following on from its success, this fourth iteration is remote/virtual event rather than two-day, in-person affair. This format extends the competition over a longer period of time, to eight weeks—which also encourages more competitors from a wider selection of locations to get involved.

418 people from 75 countries participated in the previous Hackathon, both record numbers. It saw 42 projects submitted to the judges. Its theme was “Connecting the world to the global blockchain” and the top three prizes went to REPZIP, Stotask, and Kyrt.

The three finalists of the 4th Bitcoin SV Hackathon will again present their ideas to the official judges (hopefully in person) at the next CoinGeek conference, scheduled for October 2021. There will also be a popular vote from the audience. First prize receives US$50,000, second prize $30,000 and third $20,000. All prizes are paid in BSV.

Entry registration is still open to new teams, provided they can complete their coding before the deadline. Participants will, like last time, have access to an online platform where they can collaborate with other members of their teams, and seek live advice from experts at nChain or other competitors.

The Bitcoin SV Hackathon is one of the premier events in Bitcoin Association’s developer education program. It also encourages teams to learn more about BSV’s technical capabilities, innovate on the fly, and explore new territory that other developers may not have covered before.

Peer-to-peer transactions, particularly those using SPV, have been a hot topic in BSV of late. The Bitcoin SV Infrastructure Team released version 1.1.0 of SPV Channels CE at the start of June 2021 with SDKs for iOS and Android, aimed at introducing a raft of new mobile applications for the BSV network.

The “P2P” theme covers not only payment transactions, but any direct interaction between participants on the BSV Network. Special attention will be given to those who leverage SPV Channels and the Merchant API (mAPI).

Hackathon judge and nChain CTO Steve Shadders said:

“This month’s release of SPV Channels CE v1.1.0 introduced a crucial new service to the Bitcoin SV network and an integral component to the massive scaling vision that underpins the BSV blockchain. With this edition of the Hackathon, we’re putting that new ability front and centre, tasking our entrants with finding unique and innovative ways to utilise that service and deliver on the true peer-to-peer vision for Bitcoin. I’ve always said that our role was to provide the infrastructure and for the ecosystem to find ways to leverage that – and with $100,000 staked for the winners of this competition, we’re literally putting our money where our mouth is. I’m excited to see the different approaches that our Hackathon participants are sure to take during the competition and the final entries that emerge as a result.”

Bitcoin Association Founding President Jimmy Nguyen noted that previous Hackathons have provided a great opportunity for development teams to pitch their ideas, and some had gone on to receive venture investment and become fully-fledged businesses. This edition will be no different, he added.

“We’re extremely excited for the start of the 4th edition of our Bitcoin SV Hackathon today, which will challenge participants to leverage the unique peer-to-peer functionalities of the BSV blockchain and the massive scaling capabilities it facilitates.”

Previous Hackathon winners include UptimeSV (which later became the very successful BitPing) and API monetizing platform Codugh. Notably, the prize pool has increased since the first Hackathons, with third place getters in the most recent events receiving the same monetary prize as earlier first prize winners.

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