The Reactive Network Hackathon stands as a significant event in the blockchain calendar, aiming to inspire creativity and innovation in the Web3 space. By leveraging the capabilities of Reactive Smart Contracts, PARSIQ hopes to catalyze the development of groundbreaking applications that can redefine user interactions within blockchain ecosystems.

•Event Details: Scheduled for August 25-26, 2024, this hackathon invites global developers to create solutions using Reactive Smart Contracts, with a total prize pool of $50,000.

•Collaborative Focus: Organized by PARSIQ in partnership with industry leaders, the hackathon aims to foster a vibrant community and drive advancements in blockchain technology.

The Reactive Network Hackathon will run for eight weeks, beginning on September 9, 2024, and is open to developers from around the globe. Participants are encouraged to create solutions that utilize RSCs, which enable the development of dynamic applications capable of responding autonomously to real-time events. This approach diverges from traditional models that rely heavily on user-initiated actions, thus offering a fresh perspective on application development in the blockchain realm.

The hackathon is designed to be inclusive and free to enter, providing a platform for developers to explore new use cases and create reusable code templates. Participants will have the opportunity to compete in various tracks, including an Open Category for innovative ideas, as well as specific tracks for applications like Magic Approve and Template Deployer.

A total prize pool of $50,000 will be awarded to participants, which includes $15,000 in immediate cash rewards distributed in PARSIQ (PRQ) tokens and $35,000 in grants aimed at supporting the further development of outstanding projects. This financial backing underscores PARSIQ's commitment to not only incentivizing participation but also nurturing promising innovations that emerge from the hackathon.

Daniil Romazanov, the Chief Technology Officer of PARSIQ, emphasized the goal of the hackathon: “Our goal is to challenge developers to explore new frontiers in blockchain technology using Reactive Smart Contracts. This hackathon is not just about winning prizes; it’s about contributing to a transformative technology that can redefine how we interact with blockchain ecosystems.”

The event is a collaborative effort involving several industry leaders and organizations, including the multichain decentralized exchange Pangolin, the Web3 interoperability platform Axelar, and the blockchain encyclopedia IQ.wiki, among others. This partnership highlights the increasing importance of technological innovation within the Web3 industry and aims to create a vibrant community of developers and innovators.

The Reactive Network Hackathon follows the success of the Reactive Developers Bounty Program, which concluded last month. This continuity reflects PARSIQ's ongoing commitment to advancing the blockchain landscape and enhancing user experiences across decentralized applications.

Rong Kai Wong, CEO of PARSIQ, added, “The Reactive Hackathon is a pivotal event for us, aimed at expanding the boundaries of what’s possible with Reactive Smart Contracts. We are thrilled to invite a global community of developers to innovate and build solutions that could shape the future of decentralized technology.”

Developers interested in participating start their sign up process now. The hackathon not only serves as a competition but also as a platform for learning and collaboration among developers, offering a unique opportunity to engage with cutting-edge blockchain technology.

For more information about the hackathon and how to participate, interested individuals can visit the official hackathon website.