Binance exchange, the largest crypto exchange firm globally, has announced plans to empower blockchain engineers through its Binance Smart Chain Hackathon for Africa.
The program tagged ‘Decentralised Africa,’ with a prize pool of over $30,000, is the first of its kind.
The hackathon event, which is to hold for 20 days, is to empower engineers to rapidly build blockchain solutions on the Binance Smart Chain to solve real problems identified in the African systems.
The event, which is slated for Sunday, is dedicated to the development of DeFi, NFT projects covering savings, lending and borrowing, swaps, royalties and renting, elections, identity management, land ownership, and NFTs marketplaces, among other relevant areas.
Participants will be rated by the community and an esteemed panel of judges based on the quality of technology, innovation, demo, and pitch.
They will get a chance to compete for the prize pool of over $30,000 provided by the BSC Investment team, sponsors, and the general community.
Participants will also have the opportunity to win limited edition NFTs and Binance Swags during the Hackathon period.
The hackathon event comes after the 8-week developer masterclass series, which commenced in January 2021 with a launch event during which the Binance exchange CEO, Changpeng Zhao (CZ), announced the allocation of $1 million to African developers building projects on the Binance Smart Chain.
See more: South Africa’s ‘silicon valley’ has over 450 tech firms and employs more than 40,000 people
In line with the company’s commitment to Africa and the growth of the blockchain ecosystem, Binance continues to empower blockchain engineers.
Binance exchange records growing market in Africa
Recently, the exchange reported a surge in the number of African users on its platform. The trading volume of crypto-crypto transactions increased by 28.61 percent between January and April 2021.
The company recorded a 2228.21 percent increase in P2P users on its platform and 386.93 percent in P2P volumes across Africa. Also, there was a 114.33 percent increase in users across Africa between January and April 2021.