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Home»ALTCOIN NEWS»Solana Hackathon highlights social marketplace and PoW mining
ALTCOIN NEWS

Solana Hackathon highlights social marketplace and PoW mining

By Crypto FlexsMay 7, 20243 Mins Read
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Solana Hackathon highlights social marketplace and PoW mining
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  • The Solana Renaissance Hackathon highlighted innovative projects.
  • The event was attended by 8,300 people from over 95 countries.
  • Winning projects include gaming, DeFi, DAOs, and decentralized networks.

The Solana Network is attracting global attention as a hub for Web3 innovation. The growing focus on performance and ecosystem provides fertile ground for decentralized application (dApp) development.

This was evident at the recent Solana Renaissance Hackathon, where over 8,300 participants from 95 countries submitted over 1,000 projects.

Ore takes first place and Banger.lol takes the consumer app

On Monday, May 6th, the Solana Foundation revealed the Renaissance Hackathon winners. The event attracted over 8,300 participants who submitted over 1,000 projects. Winners spanned multiple tracks, including decentralized technologies such as gaming, DeFi, DAOs, and more.

Ore emerged as the grand champion of the hackathon, winning $50,000 USDC and a ticket to Breakpoint 2024. This project introduces a new Proof-of-Work (PoW) digital currency that can be mined using the unique algorithm of the Solana blockchain. We aim to revive PoW in a decentralized manner while leveraging Solana’s infrastructure for scalability and efficiency.

In the consumer app category, Banger.lol, which allows creators to monetize their social media presence on the tweet trading marketplace, won. Second place went to Wootz Browser, which rewards users for contributing to its generative AI. Specifically, browsers pay users to help improve machine learning algorithms.

Learn more

Solana Gaming Winner in the Cryptocurrency Infrastructure Category

In the cryptocurrency infrastructure track, Solana client High TPS won. The app optimizes the scheduling and pipeline processes of the Solana blockchain to improve transaction throughput and improve network capacity, providing scalability and better rewards.

In the cryptocurrency gaming category, Meshmap and City Champ were the winners. City Champ is a 3D mapping network integrated into the game where players can earn rewards and create 3D scans of their cities to encourage crowdsourced data collection.

The winner in the DeFi and payments category was Urani, an integrator that protects users from malicious Miner Extractable Value (MEV) that can distort DeFi transactions. Integrates protection directly into the application layer.

The variety of projects in this hackathon highlights the breadth of solutions developers can build in the Solana ecosystem.

On the flipside

  • Solana has seen notable growth in the DeFi ecosystem, with some analysts predicting: SOL might take third place Among cryptocurrencies.
  • Due to rapid growth, Solana is experiencing difficulties. network congestionThis leads to a high transaction failure rate.

Why This Matters

Solana Renaissance Hackathon highlights the potential of decentralized technologies. Showcasing innovations across tracks such as DeFi, gaming, consumer apps, and DAOs, we demonstrate how decentralized apps can solve real-world problems.

Learn more about Solana’s potential to become the third largest cryptocurrency asset:
Here’s how Solana outperforms BNB and USDT: Franklin Templeton

Learn more about the Cartier-cryptocurrency connection.
Cartier heir caught laundering cryptocurrency from 100KG cocaine bust.

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