Tokyo, Japan, July 4th, 2024 – INTMAX, a key sponsor and supporter of ETHGlobal Brussels 2024, and an innovative Ethereum Layer 2 zkRollup with a stateless architecture built for mass adoption of Web3, is calling on blockchain developers and privacy proponents to submit their ideas for rewarding users who contribute towards privacy on its network.
It’s offering a prize of $5,000 USD to those who have developed or proposed a method to reward privacy users, either through mining or airdrops. Submitting just an idea is acceptable, but it must be compelling to outperform someone who has also implemented it. As noted in the documentation, rewarding users for privacy without duplication is a straightforward yet challenging problem.
Privacy protocols such as INTMAX have a unique dynamic, wherein more participants in the network translates to greater privacy for every user. That’s quite unlike most DeFi protocols, where having more users means greater competition for rewards.
The more participants there are in a privacy protocol, contributing their funds and usage, the more privacy is afforded to everyone involved. This is a unique dynamic where having more “competitors” actually benefits each individual user’s privacy, unlike typical financial applications where more users means more competition for rewards.
However, the introduction of more users makes it possible for malicious actors to exploit loopholes and obtain lucrative rewards without actually contributing to the privacy of the network. To ensure the integrity of privacy networks and properly incentives users, it’s necessary to close these loopholes.
The contest encourages developers to create the best implementation of the Quiz mechanism, or else develop a superior solution that solves the challenges of privacy rewards once and for all. Developers aren’t required to program the deposit and withdrawal process, or even provide any privacy guarantees, but simply focus on designing the actual reward system.
The actual privacy-providing protocol itself can be treated as a black box – you don’t need to program the deposit and withdrawal process, or actually provide privacy guarantees. Just focus on designing the reward system portion.
The INTMAX contest is one of several enticing prizes up for grabs at ETHGlobal Brussels, with a total prize pool of more than $450,000 on offer to developers who can stand out from the crowd at one of Europe’s biggest annual hackathon events.
About INTMAX
INTMAX is the Stateless Ethereum Layer built for mass adoption. Crafted on the principles of statelessness, advanced offline safety and capital efficiency, it is one of the most efficient native Ethereum L2 solutions currently available. By leveraging a mere 5 bytes of on-chain information to confirm the validity of computations, INTMAX drastically cuts the typical computational and storage overhead found in traditional blockchain systems. This minimalist approach not only increases scalability but also fortifies censorship resistance across the network. Moreover, it enhances privacy and security, moving beyond traditional rollup constraints and offering robust protection against a variety of network disruptions and threats.