DFINITY Teams Up with Huobi for Multi-Million Dollar Hackathon as BTC Integration Nears

Adam Kantrowitz
Adam Kantrowitz
DFINITY Teams Up with Huobi for Multi-Million Dollar Hackathon as BTC Integration Nears
Table of Contents
Table of Contents

Huobi, perhaps the world’s best-known cryptocurrency exchange, was founded in 2013. By 2018, the company was processing over a billion USD in trades daily. Like many crypto exchanges, Huboi has a vested interest in the success of many different crypto-related blockchains and projects. As a result, they started a Huobi Incubatoraccount on Twitter to promote news regarding their investments and other efforts to accelerate the entire cryptocurrency ecosystem. Their current pinned Tweet is of particular interest to developers on the Internet Computer.

Here's the short version: Huobi and the DFINITY Foundation have entered into a strategic partnership for a Hackathon that will take place on May 10, 2022, just about three months from now. The goal is to support next-gen Web3 dApps, and there is no better place to do that than on the Internet Computer.

Huobi announces the Supernova Hackathon on Twitter.

Next-Level dApps; Next Level Prizes

The DFINITY Foundation is well-known for giving tens of thousands of dollars to developers working on projects that they deem as beneficial to the Internet Computer ecosystem. But it seems like these grants are going to pale in comparison to the amount of money up for grabs at this Hackathon. Neither Huobi nor DFINITY has provided an exact number yet, but both are using the word millions. That’s going to draw the attention of a lot of developers and entrepreneurs working on Web3 dApps.

The Hackathon will be open to a wide variety of projects, including:

· Decentralized Finance

· Gaming

· NFTs

· Metaverse projects

Here’s the official link to the Supernova Hackathon on the DFINITY website. Pre-registration is already open, so don’t wait! This could be the opportunity you’ve been waiting for to get funding for your project on the Internet Computer.

The official Supernova Hackathon announcement image from the Huobi Incubator Twitter account 

An Exciting Week for the Internet Computer Ecosystem

The other big news that has the community stirring is the release of the developer preview for Bitcoin integration. The full release of BTC integration on the Internet Computer blockchain is slated for the end of March. So developers have a little less than two months to play around with development before their projects can start to go live.

Bitcoin integration marks to release of smart contracts on the Bitcoin blockchain and allows the grandfather of all blockchains to catch up to the tech introduced by Ethereum. Bitcoin integration is more than just a bridge. The Internet Computer is not a layer 2 for Bitcoin. This is complete integration which will allow for De-Fi and smart contracts on the Bitcoin blockchain – just powered by the Internet Computer. This works in both directions, meaning that a “wrapped Bitcoin” will be able to travel on the Internet Computer without the fees or slow speeds associated with the Bitcoin blockchain.

The timing is impeccable with the Supernova Hackathon following the Bitcoin Integration API going live in less than two months! Of course, Bitcoin is the first but not the last blockchain that the Internet Computer will integrate with. Ethereum is scheduled by the end of the year, and Dominic Williams even teased the possibility of other blockchains like the massively popular Dogecoin.

Dominic Williams on Twitter teasing possible future Internet Computer integrations

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