Social media application Telegram has announced a four hundred thousand dollars ($400k) award for its TON Blockchain.
TON Blockchain Smart Contract contest
Social media giants Facebook and Telegram are racing towards dominating the crypto markets. Facebook announced its Libra stablecoin that is always taking the spotlight. Telegram, on the other hand, announced a cryptocurrency and a blockchain network known as Telegram Open Network (TON) Blockchain.
Telegram has now unveiled a coding competition for building smart contracts on the TON Blockchain. The contest is divided into three parts with prize funds for all tasks ranging from two hundred thousand dollars to four thousand dollars ($200,000 – $400,000). The company announced the competition on a Telegram Contests channel on September 24. The contest will end on October 15.
The primary task of the competition is to create smart contracts using the tools present on the TON Blockchain distributed. The secondary task is making suggestions to improve the TON Virtual Machine. Another secondary task is the TON Blockchain bug bounty contest that involves detecting bugs in the network or its operations.
Telegram is hoping developers to implement at least one of the following:
- A multi-signature wallet
- A synchronous two-party payment channel
- An asynchronous two-party payment channel
- Two types of simple TON DNS Resolver smart contracts
The bug bounty contest, on the other hand, requires participants to submit a detailed report including the bug’s description and the scenarios in which it can be exploited.
Telegram has started the contest right before the launch of Gram, the native token to its TON Blockchain. Telegram has already launched its TON testnet explorer and the node software on September 6.
