Submissions for Ignition Hackathon Closed, 568 Projects Formed

The hackathon has 5860 participants with over $5 million in prizes up for grabs.

By
Anirudh Tiwari
on
October 19, 2021
Category:
Breaking News

Entries for the Hackathon Now Closed

Solana announced the entries to the 4th edition of the network’s hackathon, Ignition, upon closure on Oct.18. The protocol confirmed that hat 568 projects have hatched due to this hackathon via their official Twitter account.

The projects that have participated in the hackathon will be judged on the criteria like potential impact, functionality, novelty, design, and go-to-market strategy. 

As previously reported by Solana News, there is a prize pool of over $5 million for various categories of winners of this hackathon. 

“The technology company that registered to the Solana Hackathon in May 2021, is enthusiastically participating at IGNITION "A Global Solana Hackathon", where Solana enthusiasts gather to build and support the development of DApps using Rust- a highly accessible programming language quickly growing in popularity that has a strong reputation as an efficient, secure, and extremely interoperable language.” explained Bancambios, a participant in the Iginition hackathon on their official press release. 
Source: Still from the Ignition Hackathon’s promotional Youtube video

Although the third edition of Solana’s hackathon, known as the Solana season hackathon, has more than two times the participants as with Ignition, the number of projects formed via the hackathon is the most for Ignition, making it the most successful Solana hackathon to date.

The Solana ecosystem has grown at an incredible rate lately. According to data from DefiLlama, In just over 6 months, the total value locked (TVL) in DeFi protocols on the Solana network hit an all-time high of $12.2 billion just over a month ago on Sep. 12 this year. 

Source: DefiLlama Solana All-Time Total Value Locked (TVL) 

At the time of writing, the TVL on Solana stands at $12.15 billion, just over 4% shy of the all-time high earlier this year.


About Solana Labs

Solana Labs is the technology company behind the creation and development of one of the fastest-growing smart contract blockchain networks in the crypto-verse, Solana. The network is based on a high-performance blockchain that supports up to 710,000 transactions per second on a 1 Gigabit network without using data partitioning.

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.