The Pi Core team has announced the launch of the Pi Hackathon, which is the latest move to boost the Pi coin’s utility. The event will involve developers trying to build decentralized applications (dApps) that can attract more users to the network.
Details About The Pi Hackathon For Developers
In a blog post, the Pi Core team announced the launch of the ecosystem’s first Hackathon after the launch of Open Network. The team invited developers to build and deploy meaningful Pi Apps that will provide real-world utility using the Pi coin and also help shape the ecosystem. Developers will be competing for a chance to win up to 160,000 coins ($60,800) in total prizes.
The team revealed that the Pi Hackathon will feature a general, open-ended theme to invite broad creativity. This will enable developers to build applications that can focus on any use case, although they must follow the Mainnet Listing requirements and provide real utility to the community.
This announcement follows a report that Pi Network could soon become a major platform for RWA tokenization after Stellar, with which the network has ties, joined the ERC-3643 Association to advance compliant tokenization of RWAs. With this move, developers could focus on building apps that focus on tokenization.
The Pi Core team noted that participants in the Pi Hackathon can take advantage of community contributions by building an open source project using Pi Open Source (PiOS). Furthermore, developers can also use Pi App Studio and the Brainstorm app to aid in app development.
Prizes And Timeline of The Event
The Pi Network team stated that the winner will receive 75,000 coins, second place will receive 45,000 coins, third place will receive 15,000 coins, while up to five teams might get 5,000 coins each.
Participants can start registering and forming teams for the Pi Hackathon from today. The Hackathon will officially begin on August 21. Furthermore, the Pi Core team encouraged potential teams to submit a midpoint check form by September 19.
They said that teams that do this may receive additional mentorship, potential exposure to the Pi community, and feedback ahead of final judging. The final submission deadline is on October 15. This includes the app listing through the Developer portal, demo video, and submission form.
This Pi Hackathon is expected to provide a massive boost for the Pi Coin price, considering the attention that the coin could gain during this period. Additionally, a recent CoinGape market analysis outlined three reasons why the Pi coin could surge soon.
One reason is the ongoing whale accumulation, with a particular whale buying 350 million coins. Secondly, there is the possibility of top exchanges listing the token. Lastly, technical analysis points to a strong bullish breakout in the near term.
Boluwatife Adeyemi
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Source: https://coingape.com/pi-network-launches-hackathon-to-enhance-pi-coin-utility/