It is now the last week for ErgoHack III registrations! If you want to learn UTXO based smart contracts and build your next project, the time to apply is now. If the collaborative energy and innovative exploration at previous hackathons is any indication, the experiences ahead for ErgoHack III are not to be missed!
The theme of the third hackathon explores privacy and security as we aim to build the tools we need for tomorrow. Ergo’s ErgoScipt is based on Scala (acronym for Scalable Language) and it is a flexible and high fault-proof language that provides a scalable, functional and secure blockchain.
The UTXO (Unspent Transaction Output) model has a different logic than Ethereum's Accounts model. In UTXO, public addresses are the total of one-time use UTXO boxes (not single Accounts) so every transaction changes the UTXO state. That means, every transaction spends the old Unspent Transaction Output (UTXO) and creates new UTXO boxes with new information. UTXO is also useful for providing higher privacy by obfuscating any other addresses linked to the same spending key. Additionally, it enables parallel computations and has the potential to achieve higher scalability.
Ergo's security design is based on Sigma Protocols, a subset of Schnorr Proofs. If you are new to Ergo, you may have read that Schnorr Proofs were recently integrated with Bitcoin's Taproot Upgrade. Sigma Protocols are efficient for signing multiple keys in a single transaction, reducing the size of multi-sig transactions and enabling light payment channels. With Sigma Protocols, it is possible to create stateless clients (light wallets and light miners) and create a friendly blockchain ecosystem for developers, miners and users.
Ergo believes in grassroots initiatives and community collaboration to build tomorrow's DeFi tools. The goal of the Ergo Platform is to welcome more people who believe in the emancipation of individuals and build secure and personal finance tools for those who are at a disadvantage in joining global markets in underdeveloped economies.
Our goal is to build powerful smart contract platforms for the people, by the people.
For this reason, we are building communication channels between new developers and core developers in our Discord. ErgoHacks are for creating a sustainable ecosystem with the help of collaboration. There are multiple teams from ErgoHack I and ErgoHack II that have since stayed on with Ergo and continue to develop their own projects. With this kind of progress, we believe Ergo’s ecosystem is ripe for the development of a nurturing and active environment that cultivates collaboration and produces the dApps and tools of tomorrow.
Learn ErgoScript and Build Your dApps!
ErgoHack III Prizes:
1st place - 10k SigUSD
2nd place - 6K SigUSD
3rd place - 2k SigUSD
Additional prizes include several honorable mentions worth 200 SigUSD.
Please refer to our developer resources to learn more and dive into the ecosystem. Sigmaverse allows you to see what applications are available and discover others that are currently under construction.
If you want to take a quick look at how ErgoScript contracts work and how to use the Appkit, please see:
Learn ErgoScript By Example Via The Ergo Playground with Robert Kornacki
If you are ready to build your next big project on Ergo, prepare your proposal and be sure to submit your registration by January 31, 2022. Your proposal should include:
- A brief explanation of the skillsets of each team member and why they are important to the proposal.
- A brief explanation about the project and the solutions it will develop.
- A summary of any prep-work as well as any potential hurdles you foresee (if any)
- A brief explanation of the steps you envision necessary to complete the project (can be listed as bullet points).
You can participate solo or with a team. If you are searching for a team, join our Discord and check i-need-a-team to find like-minded people with you. If you have any other questions, please reach out to us for help.
ErgoHack III: Privacy & Security will be held from February 11-13 in Ergo Discord channels.