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Cover image for [ICON] About $400K Total Prize TX Challenge - Blockchain Development Contest

[ICON] About $400K Total Prize TX Challenge - Blockchain Development Contest

ico_ndev profile image ICONdev ・18 min read

Official : https://www.icondev.io/blog/icon-tx-challenge/?_icondev

Announcement for worldwide participants

The ICON Foundation presents the ICON TX(Transaction) Challenge contest to secure and support blockchain developers in order to improve the blockchain ecosystem.

Contest Overview

As a global 'Interchain' project connecting various blockchain communities, ICON protocol boasts its status as Korea’s No.1 blockchain platform utilizing the renowned cryptocurrency, ICX.
The ICON TX Challenge is a competitive contest where domestic and international university students and blockchain developers gather to build websites or DApps that will generate ICX TXs. Please join the 'ICON TX Challenge' if you are interested in the blockchain technology and cryptocurrency platforms!

Contest Schedule

  1. Develop a Smart Contract (SCORE) using the ICON Protocol
  2. Develop services (DApps or Web pages) that generate TXs using the completed SCORE
  3. Earn TX rewards by generating TXs and win final-winner rewards by improving DApps and services

Who should attend

Future blockchain and cryptocurrency experts around the world

How to Apply

  1. Read the contest details and development tips on the ICON’s event page.
  2. Develop blockchain smart contract (SCORE) using the ICON protocol.
    1. Develop using T-Bears
    2. Request for and receive Test ICX
    3. Test the SCORE on the Testnet using Test ICX
  3. Disseminate and audit the completed SCORE
  4. Develop services (DApps or websites) that generate TXs (TX) using the SCORE.
  5. Complete the application process by entering the audited SCORE (Smart contract) address, links to the DApp/service webpage, a brief introduction about the service (UI manual, etc.), your name, emails, and contact details.
  6. Receive TX rewards by generating TXs (TX) every day with the SCORE, and be selected for the final award-winning team by improving the DApps or services.
    • You can receive up to 60,000 ICX per team! ( = Participation prize + TX reward + Final prize)
    • All rewards including participation, TX, and final winner prizes will be paid out to the contract owner (Contract deployed wallet)
    • In case of the contract address change, please contact support@iconloop.com

Contest Period

  • Application begins on 2019.05.02
  • TX Counting begins on 2019.06.03
  • Application and TX Counting end on 2019.07.31

Application is open from 2019.05.02 until the end of the event.

TX count for TX rewards for teams that have completed their applications will start on 2019.06.03.

Awards and benefits

Total prize: 1 million ICX (About $400K and the value may change)

50,000 ICX Participation prize

200 ICX for each team whose participation is confirmed after the SCORE Audit approval (Available for the first 250 teams)

600,000 ICX TX Reward

0.01 ICX per TX is paid during the event period, up to 20,000 TX per day

  1. TX rewards are distributed every week and paid out to individual wallets.
  2. Maximum 200 TX is accepted for each wallet
  3. Each participant can receive up to 200 ICX per day during the event period
  4. Each participant can receive up to 10,000 ICX = 200 ICX x 50 days (Approx. event duration)

300,000 ICX Final Award

Total 6 teams will be selected according to the evaluation standards of the ICON Foundation including completeness, business value, technicality, blockchain utility, etc. of the DApps, and the evaluation will be based on their state at the end of the contest.

  1. Winner selection and awarding are completed within two weeks after the event ends
  2. 50,000 ICX is awarded to each of 6 teams selected
  3. Additional perks: Internship opportunities, extra points for job position application at the ICON Korean office, selective investment opportunity for teams

Contest contribution reward of 50,000 ICX will be announced later

Note

  • Participation prize is only available for the first 250 teams and the payout may end earlyUp to 600,000 ICX is paid out as TX reward and the payout may end early
  • Please check the details regarding the event progress, reward size, and reward criteria and regulations in the notification on the event web page before applying.

The objective of the event

For those who want to realize their ideas using the blockchain technology or experience the new technology, there exist technology and cost barriers such as time, TX and server hosting cost. Therefore, the ICON Foundation is providing a great opportunity for you to verify your own DApp ideas and learn the new technology with the operation and technical support for approximately two months. The main objective is to cater to the public demand for the blockchain technology as well as allowing the DApp development environment to be experienced by as many people as possible. Additionally, this will demonstrate the stability and TX processing performance of the ICON mainnet. Please, stay tuned and do not hesitate to participate!

Development-related materials

Development Materials:

Question and Answer :

Applying and inquiry

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ICONdev

@ico_ndev

ICON Blockchain Project

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Beginner and non-blockchain developer can also participate easily. You can find the tutorial on the official website!