Metis, an Ethereum Layer-2 rollup platform promising low gas fees, quick transactions, native storage, and high security, has confirmed that it will hold a hackathon event beginning in early October.
The project addresses Ethereum’s most critical challenges, including simplicity, speed, storage, scalability, security, and savings. Metis’s developers claim that they want to accelerate and streamline the transition of people to blockchain for more open, fair, and “decentralized” business conducted via Web 3.0, which is an evolving set of standards defining the Internet of the future.
Metis aims to provide appropriate technical and organizational solutions so that blockchain or distributed ledger tech (DLT) solutions become accessible to everyone.
The Metis hackathon event is scheduled to commence on October 2 at 3pm UTC, which will include the Opening Ceremony. The event is expected to end on November 30 at 3 pm UTC, and will culminate in an Awards and formal Closing Ceremony.
The hackathon will require participants to create highly performant, scalable, Ethereum-compatible dApps, with all of them being launched on Metis Layer 2. The participants will get a chance to win their share of the $1M $METIS token prize pool.
Projects offering bounties might qualify for speaker or judge privileges and also get the chance to take part in the Metis Ecosystem Development Program. You can register for this event now if you wish.
Creating Ethereum-compatible Software on Metis
The goal of the hackathon is to develop high-quality, scalable, enterprise-grade dApps. Participants can use the Metis Layer-2 development environment to integrate or migrate their existing Ethereum dApps.
The criteria to determine the best dApp project reportedly includes the initiative’s environmental, Social, and economic benefits. The dApp’s main value proposition & problem-solving potential will also be evaluated.
Participants will need to prepare a simple walkthrough of their dApp software solutions with the relevant technicalities explained as thoroughly as possible. The main goal of these projects must be stated in a concise manner. The professionals working on these projects must share their information as well to ensure transparency.
The Metis team also noted that being involved in their hackathon event could lead to other opportunities, such as projects being able to get more funding from the fast-growing Metis Web 3.0 ecosystem.
The official Metis website notes that Hackathon participants must adhere to the following rules:
- Do Not Harass
- Do Not Spam
- Respect the Opinions and Abilities of others
- Avoid sharing misleading titles
Should you have any questions or need more clarification about this hackathon, then you can send an email to: [email protected]; TG: @MetisDAO.
What Is Metis?
The Metis Layer-2 protocol has been designed to streamline the manner in which individuals and businesses communicate with each other, by leveraging the benefits of blockchain or DLT. Crypto industry professionals believe that Layer-1 blockchains like Ethereum are not suitable for offering a seamless user experience because of prohibitively high gas fees and unacceptably low throughout.
To attain truly collaborative outcomes and offer a best-in-class framework that can handle a large number of on-chain interactions with considerably fast response times, a layer-2 service such as Metis is essential.
The Metis team has shared an optimistic rollup Layer-2 solution, aiming to offer greater overall efficiency and significantly more flexibility while addressing the common Layer-2 solutions’ technical issues. The (MVM) Metis Virtual Machine is the foundational “must-have” component that enhances how people and organizations interact.
Metis may be integrated with existing websites, applications, and business platforms. The development team also confirmed that you wouldn’t be required to move or change your existing source code.