Global messaging app Telegram announced a coding competition for building smart contracts for the Telegram Open Network Blockchain.
The contest includes three parts with a prize fund for all included tasks ranging from $200,000 to $400,000, according to an announcement posted on the Telegram Contests channel on Sept. 24.
The primary part of the competition is the task to build one or more smart contracts, using the tools provided in the TON Blockchain distribution, as described in the attached TON Contest document.
The two other optional tasks include improvements suggestions for TON Virtual Machine and FunC and TON Blockchain bug bounty contest, the company said.
According to the competition's details, Telegram expects smart contract developers to implement at least one of the five smart contracts, including multi-signature wallet, two types of simple TON DNS Resolver smart contracts, a synchronous two-party payment channel, and an asynchronous two-party payment channel.
Participants of TON Blockchain bug bounty contest should submit a description and a suggested scenario for its exploit, Telegram explained.
If the developers manage to actually exploit this bug in the TON Blockchain by stealing some funds from the wallet of another person, they will be awarded a larger prize of up to $200,000 in addition to the $200,000 prize fund distributed among smart contract developers.
The contest announcement comes amid the expected launch of Telegram's digital token, Gram, in October, as previously reported.
Telegram officially released the TON testnet explorer and node software on Sept. 6.
Telegram to Award Devs $400K in TON Blockchain Smart Contracts Contest
Published on Sep 26, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.