Solana, a high-performance blockchain network, launched a hackathon for Indian developers with total prize money of Rs 60 lakh.
Solana announced an open invitation to Building out Loud, a hackathon venture exclusively for Indian developers and entrepreneurs. According to the official statement, Solana plans to launch the three-week-long event in collaboration with Devfolio and YouTube influencer Superpumped.
In a tweet, Solana noted that the hackathon will last for 3 weeks and registration for it is open to students, Web2 and Web 3 developers, engineers, and basically anyone who is looking to get into the crypto space.The move toward involving India’s open-source community in crypto may be surprising to those aware of ongoing resistance against Bitcoin from mainstream Indian banks such as ICICI. The last date for applying for the hackathon is Aug. 12.
The “Building Out Loud” hackathon is aimed at becoming a social movement for the young generation of entrepreneurs that are searching for new opportunities to launch a global product and raise capital from prominent global investors.
The three top winners of the hackathon will receive cash prizes of $10,000, $7,000, and $5,000, respectively, among other special incentives. The winning participants will get to raise capital from the Solana Foundation and prominent global investors. This initiative also sees the involvement of prominent crypto figures and entrepreneurs, including former Coinbase chief technology officer Balaji Srinivasan, seed investor Chris McCann and Cred founder Kunal Shah.