Ethereum Foundation funds ETH Beijing Hacksong for public goods, L2 applications and open research
On March 7, the blockchain association of Peking University tweeted that ETH Beijing Hacksong had received funding from the Ethereum Foundation. The Hacksong m…
On March 7, the blockchain association of Peking University tweeted that ETH Beijing Hacksong had received funding from the Ethereum Foundation. The Hacksong main track is: public goods, L2 applications, and open research. At present, ETH Beijing Hacksong has been sponsored by the Ethereum Foundation ESP, Scroll, and Mask Network, with a total prize pool of 30000 dollars.
ETH Beijing Hacksong received funding from the Ethereum Foundation
Analysis based on this information:
The message announces that the Ethereum Foundation has provided funding to ETH Beijing Hacksong, an event that focuses on exploring and creating public goods, layer-2 (L2) applications and open research on the Ethereum blockchain. The sponsorship from the Ethereum Foundation aligns with its mission to support and catalyze the growth and adoption of Ethereum and promote the development of the Ethereum ecosystem.
The main track of ETH Beijing Hacksong focuses on three key areas: public goods, L2 applications, and open research. Public goods refer to digital infrastructure that has a broad social benefit and cannot be captured by the market, such as libraries, educational resources, and public utilities. The creation of public goods is an important aspect of the Ethereum ecosystem as it relies on them to function.
L2 scaling solutions, on the other hand, aim to improve the usability and scalability of the Ethereum network by offloading transactions from the main chain to a secondary chain. This facilitates faster and cheaper transactions, which can be crucial in promoting adoption of the Ethereum network. Open research refers to research that is open, transparent, and collaborative, with the aim of advancing knowledge and creating solutions for challenges faced by the Ethereum community.
The total prize pool of ETH Beijing Hacksong is $30,000, which is provided through sponsorships from the Ethereum Foundation ESP, Scroll, and Mask Network. The prize pool is a way to incentivize developers and community members to participate in the event and create innovative solutions that can contribute to the growth and development of the Ethereum ecosystem.
Overall, the funding provided by the Ethereum Foundation to ETH Beijing Hacksong is an important step towards advancing the Ethereum ecosystem and supporting the creation of public goods, L2 scaling solutions, and open research. The event provides an opportunity for developers and community members to collaborate and create solutions that can have a broad social benefit, and the prize pool incentivizes participation and innovation.
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