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CanYa - Bountysource - TypeHyman: Binance DEXathon Melbourne

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Young Husband

2/50 Elizabeth St, Kensington

Kensington, VIC 3031

Australia

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The CanYa - Bountysource - TypeHuman: Binance DEXathon, Melbourne


The Problem:

Centralised exchanges have existing problems around access, custodianship and a extremely vulnerable to hacking. Mt GOX, BitFinex, CoinEx and BitGrail have all been hacked, with billions of dollars of coins stolen. The holy grail of exchanges is to create a decentralised exchange (DEX) with a fast order matching engine, deep liquidity and zero custodian risk.

Kyber, Airswap, 0X are some of the current projects in this space, but with so far low adoption. Currently, decentralized exchanges (DEX) are inefficient and difficult to operate for the average user. As a result, they generally have reduced liquidity.

Cryptocurrency is evolving at a rapid rate and we must ensure that blockchain technology is able to keep up.

The Dexathon:

Binance are one of the world's leading exchanges. They grew from 0 to 400 employees in 6 months and have been the world's fastest-growing revenue generating company. As described in their original whitepaper, Binance fully intend to launch a decentralised exchange, (they currently operate a centralised exchange). To help encourage the open-source blockchain community, Binance are hosting a worldwide hackathon style event to push the envelope in blockchain technology known as the "Binance Dexathon". Their original medium post can be found here: Binance announces Dexathon.

Binance will offer a total prize pool equivalent of $1,000,000 USD, paid in BNB, and university teams are encouraged with the offer of a special grant of $10,000 per qualified team — even if you don’t win.

The Melbourne Hackathon:

CanYa and Bountysource, in collaboration with TypeHuman, will host a hackathon to foster innovation and encourage teams to ultimately submit an application to the Binance Dexathon, which closes on 30 June 2018. The Melbourne Hackathon will guide teams through a weekend of blockchain principles and protocols, and work with them to theorise, research and pitch a possible solution for a DEX.

The organisers will also use their networks to guide the winning teams in the application process and introduce them to Binance.

The Goal: The objective of this event is to solicit prototypes of a decentralized exchange with a focus on speed and capacity, or more precisely, a DEX blockchain that is low-latency and high-throughput.

Deliverables:

- A 5 minute presentation on the DEX blockchain solution, which may include a working prototype, psuedo code, high-level technical overviews, media or a landing page.

Winning teams (1st, 2nd, 3rd) will be chosen with the following principles:

- Idea and Technical Implementation

- Presentation Quality


Prizes

First Prize: 10,000 CAN, Personal introduction to Binance Team, Help with Application Submission

Second Prize: 5,000 CAN, Help with Application Submission

Third Prize: 1000 CAN, Help with Application Submission


Event Details:

Time: 6pm Friday 4th May to 6pm Sunday 6th May

Location: Young Husband, Kensington

Food and Drinks: Provided


The format for the weekend will be:

Friday: Opening, intros and keynotes

Saturday: Hack!

Sunday: Presentations and awards


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Young Husband

2/50 Elizabeth St, Kensington

Kensington, VIC 3031

Australia

View Map

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