Crypto Updates

IOVLabs Launches a $2.5 Million Grants Program and the Scaling Bitcoin Hackathon To Usher In New Builders

IOVLabs Launches a $2.5 Million Grants Program and the Scaling Bitcoin Hackathon To Usher In New Builders

May 17, 2023 – Miami, Florida

IOVLabs, one of the global blockchain technology leaders, announced the launch of a $2.5 million strategic grants program to further enhance the development and adoption of Rootstock, the world’s first Bitcoin sidechain, which has become a growing hub of DeFi activity on the Bitcoin network.

The program was revealed today at the inaugural Bitcoin Builders Conference in Miami, a pioneering event focused on Bitcoin layer one and layer two developers.

To discover eligible candidates for the grant program, IOVLabs also announced the launch of a Hackathon in partnership with HackerEarth, a global community of over four million developers.

The Hackathon will run from May to July 2023, featuring an ideation stage, a development stage and a final pitch to an esteemed panel of judges from the Bitcoin and Rootstock ecosystems.

Blockchain developers from all over the world are invited to apply.

Given Rootstock’s compatibility with EVM (Ethereum Virtual Machine), no prior knowledge is required to build DApps (decentralized applications) and integrations on the network.

Developers can use the same solidity tools and libraries they are accustomed to including Hardhat, Truffle, web3.js and ethers.js.

In addition to the possibility of qualifying for the $2.5 million grant program, all Hackathon participants stand a chance to win over $25,000 in prizes.

Hackathon judges include Sergio Lerner, co-founder of Rootstock, and mentors include Diego Gutierrez Zaldivar, co-founder of Rootstock.

Rootstock ecosystem leaders including representatives from Sovryn and Tropykus will also be judging the hackathon.

Developers can leverage Rootstock’s extensive resources on the DevPortal and gain the ability to incorporate the RIF‘s pre-built open-source protocols into their current and future projects.

This is part of a broader effort by IOVLabs to extend the possibilities of Bitcoin beyond being a store of value and help the ecosystem become a full-fledged financial system.

The dual-pronged approach of supporting established financial institutions building and launching Web 3.0 products and aiding entrepreneurs and builders with funding and support through hackathons and grants all speak to IOVLabs’ desire to empower the community.

Co-creation and the continual growth of Rootstock’s ecosystem partner list further attribute to that mission.

Pei Chen, vice president of growth at IOVLabs, said,

“IOVLabs’ support of the…

Click Here to Read the Full Original Article at The Daily Hodl…