- October 5, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Metis, a leading Ethereum Layer-2 Rollup scaling solution, has recently kicked off their hackathon, starting from October 2, 2021, and running until November 30, 2021. Metis will be providing up to $1 million in rewards to software architects who are able to develop decentralized applications (dApps) or other types of platforms to solve some of the problems mentioned in the United Nations’ sustainable development goals (SDGs).
These issues include addressing poverty-related challenges, eradicating hunger issues, helping people maintain good health, providing quality education, maintaining gender equality, supplying clean energy, and fulfilling water supply requirements.
They also include offering decent work opportunities, innovation, reduced inequalities, sustainable cities, responsible consumption, climate change actions, world peace initiatives, life on land and below water initiatives, and various partnerships centered around achieving these goals.
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DeFi or decentralized finance protocols may empower charitable organizations by allowing them to raise funds a lot faster, while bringing greater levels of transparency and accountability. DeFi platforms are also able to ensure that a greater percentage of the funds acquired can actually reach the intended causes with limited amounts needed for administrative costs.
As noted by its developers, Metis’ hackathon will require program participants to create scalable, Ethereum-powered dApps on Metis Layer-2. As mentioned, the event participants will be able to claim a certain share of the $1 million $METIS token prize pool.
Initiatives that will offer bounties will get a special speaker or judge privileges and have the chance to enter the Metis Ecosystem Development Program. You may register for the event right now.
The main purpose of the Metis hackathon is to create performant Ethereum-powered dApps. The participants will also be able to decide if they want to integrate or migrate their Ethereum dApps onto the Metis Layer-2 SDK.
As mentioned in the announcement, the criteria to assess a project includes its overall economic, environmental, and social impact. The dApp’s value proposition and its ability to solve real-world problems will also be assessed.
Participants will be asked to share an easy-to-follow walkthrough of their software applications with all the technicalities carefully explained. The primary goal of these projects should be clear and there needs to be comprehensive information available about the initiative’s team members.
If you have additional questions regarding this event, then please send a message to: [email protected]; TG: @MetisDAO
Harnessing the Power of Blockchain Tech to Improve Financial Systems
As mentioned in the announcement, the Metis Layer-2 platform aims to improve how individual users and organizations interact with each other, by harnessing the power of blockchain or distributed ledger technology (DLT).
It’s worth noting that Layer-1 blockchains like Ethereum are not offering a seamless user experience because of their exorbitant gas fees and relatively low throughput.
To address these issues, the developers of Metis are providing a robust framework that has been designed to handle a large number of on-chain operations, along with providing fast response times.
The Metis development team has launched an Optimistic Rollup Layer-2 solution that offers greater efficiency, enhanced security, and more flexibility, in order to address common issues with blockchain network performance.
The Metis Virtual Machine (MVM) has been developed to serve as the “foundational must-have” component as it’s able to enhance how individual users and organizations interact with each other. With Metis, it’s possible to build scalable dApps that can deliver the high level of performance required by enterprise-grade software applications.
