Telegram launches a $400,000 contest for blockchain devs
NEWS
September 26  |  2 min read

Telegram Announces a Blockchain Coding Contest

The COIN360 Editorial Team

Telegram, the cloud-based instant messaging and voice-over-internet platform, has announced the start of a “$200,000-400,000 blockchain coding competition”. The primary task of the contest is to build and implement smart contracts for the Telegram Open Network (TON) Blockchain.

The contest will be split into three parts, with a prize fund for all tasks ranging from $200,000 to $400,000. The main goal for the participating teams is to build one or more smart contracts specified in the TON document. Besides that, there will be two optional tasks including improvement suggestions for FunC or TON Virtual Machine and TON blockchain’s bug bounty contest.

At the end of the contest, the participating developers are expected to implement at least one of the five smart contracts using the tools provided by the TON Blockchain team. Besides, developers will need to implement scripts that enable users to “to create, properly configure, and control new instances of the smart contract.”

There will be five smart contracts suggested for implementation including a multi-signature wallet, a simple TON DNS Resolver smart contract with automatic registration of new subdomains, a simple TON DNS Resolver smart contract with manual registration of new subdomains, and a synchronous and asynchronous two-party payment channel.

If a developer identifies a bug and suggests a scenario to exploit it resulting in the loss of user funds on the test network, this team or person will receive a larger prize of “up to $200,000 in addition to the $200,000 prize fund distributed among smart contract developers,” Telegram explained. Telegram will consider security vulnerabilities that are not linked to denial of service (DoS or DDoS), brute force, physical attacks, or social engineering attacks.

The contest ends on Oct 15, 2019.