The Solana hackathon aims to boost India’s crypto innovation

Solana, a blockchain platform, has extended an open invitation to Building out Loud, an exclusive hackathon for Indian developers and entrepreneurs. Solana plans to kick off the three-week event in collaboration with Devfolio and YouTube influencer Super pumped, according to the official statement.

“Students, Web2 & Web3 developers, engineers, and anyone looking to get into crypto organized in collaboration,” according to Solana’s announcement. The decision to involve India’s open-source community in crypto may come as a surprise to those who are aware of mainstream Indian banks’ continued opposition to Bitcoin (BTC), such as ICICI. The deadline to apply for the hackathon is August 12th.

Solana described hackathons as the “birthplace of crypto startups,” saying:

“If you’re an ambitious engineer or developer in India looking to build something, this is the skyhook you’re looking for.”

In addition to the $80,000 in cash prizes, winning participants will have the opportunity. To raise capital from the Solana Foundation. And other prominent global investors. In addition, Former Coinbase chief technology officer Balaji Srinivasan. Seed investor Chris McCann, and Cred founder Kunal Shah. Are among the prominent crypto figures and entrepreneurs involved in this initiative.

Several crypto apps and projects have sprung up as a result of the Solana ecosystem. Moreover, Step Finance, a Solana-native decentralized finance protocol, launched a private token sale for $2 million in April 2021.