The world of crypto is fully digital and its workforce replicates that. Most of us who work with crypto do so remotely and in front of a screen, which often cuts off the social aspects of working in-person.
Yet, we don’t always have to work by ourselves. Blockchain hackathons aim to solve that issue.
But what is a hackathon exactly?
What is a hackathon?
A blockchain hackathon is an event that gathers teams under one roof to work on a software project, usually over a few days. At the end of the hackathon, the teams are expected to present the results of their labor.
The intensity of work is through the roof as participants ranging from programmers to designers strive to finish in time. There’s fierce competition between teams as some hackathons even have prizes for the best prototype presented at the end of the event.
Most hackathons have a few things in common: rows of fancy computer setups, blazingly fast WiFi, free food and drinks, and if you’re lucky, parties after-hours. After all, what is a hackathon without free stuff?
Are hackathons worth it?
Hackathons are a great way to cut through all the formalities and time-wasters (in other words, the BS) and get straight to business. Some companies, like Coinbase, even host their own hackathons for employees to work on new features.
Crypto moves fast, and it seems the landscape is changing daily. A hackathon is an ideal place to take an idea from zero to completion quickly and see if there’s any real demand for the product before committing.
What are the benefits of a hackathon?
Did you know that the DeFi app 1inch came from a hackathon? As one of the leading DEX aggregators and sitting at a 400 million dollar market cap, it serves as a prime example of what you can achieve during hackathons.
Networking is another invaluable part of these events. In crypto, the pool of talent is tiny compared to the overall tech industry; hackathons are an easy way to meet the right people and form life-changing connections.
During hackathons, there usually are presentations and panels held by industry experts who share advice and insights to help novices. Questions are reserved for the end, so make sure you have some ready!
What do you need for a hackathon?
So what skills do you need to participate in a blockchain hackathon? You would need the same skills and proficiencies expected to work in a tech role. While they mainly consist of programmers, hackathons are also filled with UX designers, product managers, analysts, and other roles usually involved in software development.
Feel free to look for crypto hackathons in your area that interest you. See if you can form a team and participate or sign up with some of your colleagues. Many even attend blockchain hackathons without preparation to meet people and develop ideas on the spot!
Best blockchain hackathons
ETHGlobal hosts some of the biggest and well-regarded blockchain hackathons. They’re focused on growing the Ethereum ecosystem by providing in-person and online assistance to developers building Web3 apps for the next era of the Internet.
Ethereum is not the only chain with good crypto hackathons. Exodus recently attended a Solana Hacker House held in Stockholm, Sweden. These Solana hackathons are hosted by the Solana Foundation and Jump Crypto and take place over five days. Both existing and new Solana projects attend to work on their Web3 apps.
We interviewed several of the projects in attendance and heard their valuable thoughts on precisely what is a hackathon and their importance in the world of crypto.
Stay tuned as we will be releasing those videos in the near future!
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.