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Telegram to Award $400K in TON Blockchain Smart Contracts Contest

30.09.2019 18:17

Telegram to Award $400K in TON Blockchain Smart Contracts Contest

International messaging program Telegram declared a coding contest for constructing smart contracts to its Telegram Open Network (TON) Blockchain.

5 Kinds of contracts that are smart The competition includes three components with a prize fund for many comprised jobs which range from $200,000 to $400,000, based on a statement submitted on the Telegram Contests station on Sept. 24. The competition will end on Oct. 15.

The main region of the contest is the best way to construct one or more intelligent contracts, employing the tools supplied in the TON Blockchain supply, as explained in the attached TON Contest record . Both other tasks comprise enhancements suggestions for TON Virtual Machine and FunC and TON Blockchain bug Enforcement competition, the business said.As stated by the competitor's details, Telegram expects smart contract programmers to execute a minumum of one of those five clever contracts, such as multi-signature wallet, two kinds of easy TON DNS Resolver smart contracts, a synchronous two-party payment station, along with an asynchronous two-party payment station.For harnessing a bug Bigger decoration Participants of TON Blockchain bug Enforcement competition must submit a scenario because of its own exploit along with a description, Telegram clarified.If the programmers figure out how to really exploit this bug at the TON Blockchain by minding some funds in the pocket of someone else, they'll be granted a bigger prize of around $200,000 in addition to the $200,000 prize fund spread among clever contract programmers.The competition announcement comes amid the anticipated launch of Telegram's digital token, Gram ico, in October, as formerly reported. Meanwhile, Telegram formally released that the TON testnet explorer and node applications on Sept. 6.

This company was not exactly flourishing -- according to Vasin, the platform boasts only approximately 3,800 users. But once the gram token is issued, Vasin expects the number to jump up to 15,000 in the days after the mainnet launch (the TON system is anticipated to be established no later than Oct. 31).

"This quote is based on the [number] of new sign-ups we got the day once the data was leaked," Vasin explained, referring to an episode on Aug. 9, when a public relations staffer jumped the gun and published a media release about its plan to list grams sooner than intended. (Blackmoon formally announced the plan Tuesday.)

Vasin stated Blackmoon is targeting both investors and advanced algorithmic dealers who would arrive at the exchange for gram liquidity.

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