The DFINITY Foundation recently completed a bounty program at ETH Denver 2024, which brought together 20,000 developers from around the world with a mission to push the boundaries of the Internet Computer Protocol (ICP) with innovative decentralized applications (dapps).
The event was divided into two different themes: “Scaling Ethereum with ICP” and “Open Bounty: ICP is Awesome”, aiming to explore the huge potential of ICP to solve real-world problems and enhance the blockchain ecosystem.
Track segmentation and award-winning projects
Scaling Ethereum with ICP
This track requires participants to connect the functionality of Ethereum with the Internet Computer and create solutions that can fully leverage the strengths of both platforms. From integrating smart contracts to enhancing cross-chain capabilities, developers are tasked with demonstrating how ICP can extend the functionality of Ethereum in novel ways.
First place: Global Mile
Rewarded with $10,000 USDC for their cross-chain dapp, the team leveraged threshold ECDSA for key management and fetched EVM on-chain data via HTTP calls.
Problems that Global Mile solves - From their website:
More than half of the workforce on the planet doesn’t care about cryptocurrencies, these people care about keeping their hard-earned money in a bank account so that they can cash it out for their daily needs, hence the gap between crypto assets and more than half of the world’s population.
...we saw a huge opportunity in an untapped industry: shipping services.
Every day, millions of packages are delivered around the world via last-mile delivery services, and the companies responsible for this part of the value chain have inefficient processes due to a lack of drivers and technology.
Using blockchain technology we can solve three major problems in the last mile value chain, decentralizing drivers from companies, allowing for larger work forces to reduce the gap between supply and demand, ensuring more packages are delivered every day.
Immediately pay the driver who delivers the package, using the Internet Computer’s HTTP outbound calling capabilities we can transfer the money directly into the driver’s bank account so they never hear the “encrypted words”, giving them a seamless experience.
2nd Place: Token Magician
Received $5,000 USDC reward for being a multi-chain token deployer.
The project impressed with its use of Threshold ECDSA, transaction execution from within containers to any EVM chain, and its clean, open-source code and solid use cases.
Problems Token Magician solves - From their website:
Traditional methods of deploying tokens on different blockchain networks often involve complex and time-consuming processes. Token Magician Deployer provides a user-friendly, secure and efficient solution for creating and deploying tokens on various blockchain networks.
It simplifies complex processes, facilitates interoperability, and enhances the overall accessibility of blockchain-based tokenization.
3. Investly DCA
Reward: $2,000 USDC.
This cross-chain dapp developed by Orally is focused on integration with Orally, but serves as a typical use case. It adopts Threshold ECDSA for key management and deploys its container ID.
Problems Investly DCA solves - From their website:
Investly solves several key challenges in the cryptocurrency investing space:
Mitigate market volatility
Enhance user autonomy
Non-custodial control
Reduce transaction costs
Gas-free transactions
Simplify the investment process
Automation Investment
Customizable investment strategies
Flexible options
Helping you make informed decisions
admission to market
Investly fills the need for a user-centric, cost-effective, and automated investment solution in the volatile cryptocurrency market, facilitating a more disciplined and strategic approach to building wealth over time.
Open Bounty: ICP is great
The workshop extends an open invitation to developers to demonstrate how they are creatively using ICP’s unique features, with the goal of highlighting projects that can demonstrate the usefulness of ICP in a variety of applications and push the boundaries of what is possible with blockchain.
3. PROVENANCE
With a prize of $1,000 USDC, the project demonstrates the versatility of ICP, featuring smart contracts built on the Internet Computer, with a deployed container ID and open source availability.
Problems PROVEHANCE Solve - From their website:
Provehance connects open banking with blockchain technology, allowing users to generate verifiable, privacy-preserving proofs of financial data from real-world banks in the blockchain in SBT format.
This innovation provides a secure, transparent solution that protects user privacy while providing reliable financial verification, bridging the gap between privacy concerns and the necessity of financial transparency in a digital and decentralized environment.
Here are some useful Provehance features:
Proof of Reserves
Regular payments and proof of loyalty
Credit Certificate
Proof of Transaction Authenticity
Proof of income
Proof of asset support
Celebrating innovation and collaboration
This bounty not only demonstrates the technical strength and innovative thinking of the ICP developer community, but also emphasizes the DFINITY Foundation’s commitment to fostering a vibrant ecosystem for decentralized applications.
By providing a platform for developers to experiment and innovate, DFINITY continues to pave the way for the next wave of blockchain technology, bridging the gaps between existing platforms and exploring new possibilities in the Web3 space.
Congratulations to all the winners and participants who presented their projects, the creativity and technical skills demonstrated at the event are a good sign for the future of blockchain and decentralized applications.
#ETHDenver2024 #ICP🚀🚀 #DFINITY
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