Sunday, 09 August, 2020

Hackers benefit from blockchain voting, rewards and transparency


TAIKAI, a hackathon management platform, announced on June 29 that it would use the Telos network to provide a fully transparent and auditable blockchain voting system, and as a token-based reward mechanism.

Telos is based on EOSIO technology, and TAIKAI had previously been using EOSIO for this functionality. It was even mentioned on the EOS blog earlier this month.

Interoperability platform to use Telos technology for inter-string transactions

Hacking isn’t always a bad thing
TAIKAI describes its platform as an open innovation social network, which facilitates the meeting of companies facing challenges, with a community of innovators to help solve them.

The hackathon format provides a cost-effective way for companies to attract a large amount of highly specialized talent to focus on future problems.

Telos to use blockchain for its food support platform
With such a focus on combining challenges and solutions, it was key to find the right blockchain network to run the platform. TAIKAI’s CEO, Mário Ribeiro Alves, explains:

„TAIKAI is a community driven platform and we are looking for like-minded partners who can help us create a network effect. Fortunately, we found TELOS, and from the first meeting we knew that we were completely aligned. I am confident that we will build a great future together as we connect businesses with innovative teams to solve real-world challenges.

Blockchain as an enabler

Blockchain has been part of TAIKAI’s vision from the beginning, and Alves realized the value of „tokenization as a way to provide a transparent and auditable selection process for use in hacking and other innovation challenges.

Telos to support intelligent Ethereum-compatible contracts in its network
However, it was important that a normal user did not notice any difference between using a blockchain-enabled platform and a non-blockchain platform.

Since its launch in March 2019, the company has incorporated some of the largest companies and universities in its native Portugal and is looking to expand globally.

The Telos network has been gaining ground Crypto Investor in recent months, becoming the blockchain of choice for Transledger’s interoperability platform, the All_EBT food assistance program in the United States, and has announced support for Ethereum smart contracts following the launch of an Ethereum virtual machine.