Binance launches “Build For Bharat”; first DeFi-focused Hackathon in India
New Delhi, India — August 24th, 2020: Binance, the global blockchain company behind the world’s largest digital asset exchange, today launched ‘Build for Bharat’, a twofold program with hackathon and acceleration opportunities for blockchain developers and startups in India.
The hackathon is sponsored by Google Cloud, along with leading technology companies Matic Network, Marlin Protocol, Band Protocol and Ankr cloud infrastructure, while the acceleration comes under Polaris, an initiative by the Blockchain for India 50M fund, launched by Binance and WazirX in March 2020.
Spanning over a few months — from 24th August to 31st October 2020 — the Build for Bharat hackathon will be open to creators, innovators, startups, and BUIDLers from all over India working on unique and creative products utilizing digital assets and blockchain technology. The solutions will be centered around decentralized finance (DeFi) such as mini-Tokens, micro financing products, blockchain datasets, blockchain-AI solutions and more.
“India has been one of the most interesting countries Binance has tapped into! We’ve seen entrepreneurs create robust blockchain-based solutions from scratch and scale it. With the second largest blockchain developer base in the world – India has already kickstarted the revolution of decentralization and we’re here to fuel it!” said Binance CEO Changpeng Zhao (CZ).
Selected participants will undergo three stages of filtration with 100 teams shortlisted in the first cohort, 20 teams in the second, and five teams in the final cohort. The finalists will receive rewards from a pool of 30,00,000 INR while the winning teams stand a chance to secure additional investment and mentorship opportunities under the Polaris accelerator, an initiative by the Blockchain for India fund.
To apply for Build for Bharat program, head over to the event registration website. Registrations for the program are open from today till 11th September 2020.
[The event is managed by Lumos Labs – A Singapore-based innovation management platform.]
Binance.com is the world’s largest cryptocurrency exchange by trading volume. Binance Exchange serves users from 180+ countries and regions. Binance’s dual-chain architecture comprises Binance Chain & Binance Smart Chain that empowers the developer community to build their own decentralized apps and digital assets on one blockchain, while also taking advantage of the fast trading performance offered on the Binance Decentralized Exchange (DEX).
The dual-chain architecture of Binance Chain & Binance Smart Chain empowers the developer community to build their own decentralized apps and digital assets on one blockchain, while also taking advantage of the fast trading performance offered on the Binance Decentralized Exchange (DEX).
Polaris an initiative by Binance and WazirX under the Blockchain for India Fund is designed to meet the needs of first-time cryptopreneurs and tech talents who want to explore working on crypto and blockchain-related projects. Individuals/Entities can apply for two Polaris programs, Kickstart and Blitzscale, depending on which stage of development the teams and individuals are in.
Launched in 2018, WazirX is India’s fastest growing cryptocurrency exchange with over 600,000 users. The goal of WazirX is to make crypto accessible to everyone in India. WazirX is a part of Binance ecosystem, and available for global audience. Key features include:
Instant INR (fiat) deposit and withdrawal options
Smart Token Fund to help crypto investors find expert traders, and let them manage their cryptocurrency portfolio
World’s first auto-matching P2P engine with high liquidity
Login via Binance option
Google Cloud wants to help startups focus on their ideas, innovate and grow into the next great company. We empower startups to grow with the same tools and infrastructure used to build Google.
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Use the same technology used to build Google. Key examples of this include Android, Chromium, TensorFlow, and Kubernetes. Google is the largest contributor of open source software to GitHub.
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Marlin is a secure platform-agnostic networking protocol that enables faster transmission of blocks and transactions between miners and incentivized full nodes, making web 3 experiences smoother and cheaper. It is interoperable with a wide range of consensus algorithms helping scale blockchains at layer-0.
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.
Ankr is building an infrastructure platform and marketplace for Web3-stack deployment. The blockchain infrastructure aims to enable resource providers and end-users to easily connect to blockchain technologies and DeFi applications. The Ankr proprietary cloud infrastructure operates independently from public cloud providers and is powered by geographically distributed enterprise-grade data centers to increase resilience and stability.
Matic Network is a Layer 2 scaling solution backed by Binance and Coinbase that is providing a generalized Layer 2 platform, enabling Ethereum developers to scale their DApps for large-scale usage. For the initial phase, we have launched our hybrid PoS+Plasma sidechain on top of Ethereum which is already gaining huge traction – making Matic one of the fastest growing DApp platforms in the space.
We believe the answer to enabling widespread adoption of blockchain technology lies with second-layer solutions focused on scalability. To this end, Matic Network provides massive scaling capabilities whilst leveraging the security and decentralization of the mainchain.
Key Strengths and Features
L2 transactions secured by Plasma.
Zero effort deployment for existing Ethereum programmers.
Extremely low-cost transactions.
High throughput and fast (1-2 second) confirmation times.
Adoption exponentially increasing (more than 60+ DApps already on Matic).
Ideal solution for gaming and DeFi projects to overcome Ethereum’s performance bottlenecks.
Lumos Labs is a Singapore based innovation management firm that specialises in running technology open innovation programs. Founded in 2018, the company has run several accelerators and open innovation programs for international firms.
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