The competition gets under way in Hong Kong today, as 5 teams of 5 battle it out in the opening in-person hackathon event for a place in the grand final; held at a currently unknown location.
All entries wishing to participate in the EOS hackathon must first submit a Youtube or Youku video pitch, which will undergo an initial community voting process. The top 10 projects with the most likes will go through to the next preliminary stage, where a panel of Judges will hand pick just 5 of those teams to compete in the main in-person events. Judges in this panel represent some of the most prestigious members of the crypto industry, including EOS CTO, Dan Larimer and Block.one CEO Brendan Blumer. The 5 teams competing in the Hong Kong event today include, Bee Social, Drops, iRespo.com, Armada and Loan-Block.
During the in-person events, each DApp submission cannot be started until the event officially begins and will receive an overall score between 0 – 20, based on an average taken from each Judge’s scorings. The panel will be marking the contestants on a strict criteria as follows:
- Utilization of EOSIO Blockchain technology (5pts)
- Creativity (5pts)
- Impact (5pts)
- Scalability (5pts)
The winning teams of each in-person event will be awarded $100,000 plus a travel stipend for each member to travel to the grand final location. 2nd and 3rd place teams in these events will be awarded $25,000 and $10,000 respectively, including a travel stipend. They have also added 3 x $3000 prizes for ‘superlative’ winners.
So far, the next 2 stages of the hackathon have been announced to take place in Sydney (Aug 4-5) and London (Sep 22-23), with the last in-person event still to be confirmed.
The overall winning team of this hackathon will take home $500,000 prize money and a sit down with Block.one and EOS Venture Capital.