2023.06.22

CROSSVALUE Chain Global Hackathon Round 1 Location: Vietnam
 〜The aim is to build the next generation Layer 1 blockchain ecosystem.〜




6/22/2023 Hanoi, Vietnam

CROSSTECH, together with its partners Ekoios Technology (technical advisor) and Vietnam Blockchain Union (sponsor), is pleased to announce the first Global Hackathon in Vietnam.

This hackathon is looking for developers to build innovative distributed applications (dApps) on the CROSSVALUE Chain (hereinafter referred to as "CVC"), which is being developed by CROSSTECH. For more information, please visit the event's official website.

https://hackathon.cross.technology/

A key challenge for blockchain infrastructure is the tradeoff between security and user experience. Existing systems cannot correct transaction errors because blockchain records are irreversible. CVC offers a solution to this challenge through an escrow function.

Employing its proprietary VPoW (Voting Proof of Work) algorithm, CVC allows consensus nodes to have an escrow function so developers in the upper layers can benefit from it and minimize mistakes by end users.

We are also developing Decentralized Autonomous Content Storage (DACS), a distributed storage system for digital content that ensures permanence of data storage.

The combination of CVC and DACS poses a game-changing approach, especially in the asset token market, which is expected to grow to over US$16 trillion by 2030.

To promote the adoption and application of the technology in preparation for its mainnet release, CROSSTECH will host a series of quarterly hackathons around the world, with Vietnam being the first stop.

The hackathon is open to developers from all over the world as teams or individuals. The winner of the Vietnam competition will be announced at an awards ceremony on July 28, where more than $50,000 will be awarded in USDT and XCR (1 XCR = 0.11 USD), the official token of CROSSTECH.

1st prize:15,000 USDT & 100,000 XCR
2nd prize: 8,000 USDT & 50,000 XCR
3rd prize: 5,000 USDT & 25,000 XCR
4th prize: 3,000 USDT & 10,000 XCR
5th prize: 1,500 USDT & 5,000 XCR

Participants will receive technical and business support from event organizers and have the opportunity to network with like-minded developers and industry professionals. Participants can attend the hackathon multiple times to gain more knowledge and polish up on perfecting their dApps.

Submitted content will be judged on technical quality, practicality, affinity with the CVC ecosystem, and potential impact.

Judge Committee
Mr. Tokuro Uhara: Co-founder & CEO, CROSSTECH
Mr. Yuma Tanimoto: Co-founder & CSO, CROSSTECH
Dr. Hiro Takahashi: Chief of Architect, CROSSVALUE Chain
Mr. Hideki Ikeda: Director, Zaif
Mr. Duong Thanh Hai: CTO, GameFi.org
Mr. Dang Minh Tuan: Chairman, Vietnam Blockchain Union


Comment from Uhara:

”Our mission is to incubate innovative applications that take full advantage of the unique characteristics of CVC and DACS and to build a global network of CVC developers. We chose Vietnam as the first host country because Vietnam is very active in offshore development and is responsible for the core development of many projects. We believe that Vietnam has a huge pool of talent and will play an important role in the future foundation of Web3. Another objective is to attract young engineers, as the timing of the event is during the summer vacation for students. web3 has young and talented developers. We believe this will be the starting point for a global development community where innovative ideas using CVC and DACS can come from young engineers, regardless of age."

About CROSSTECH

CROSSTECH is a Dubai-based global blockchain company with team members from eight countries developing its own L1 chain, the CROSSVALUE Chain (CVC). CVC aims to overcome the "separation of data and value" problem of existing L1 chains by integrating blockchain and decentralized storage, and even prevents misdelivery of the assets through an escrow function built into the consensus process. With these proprietary technologies optimized for asset storage and transfer, CROSSTECH will open up the future of asset tokenization, which is accelerating.

Media Contact:
hackathon@crosstech.llc