Telegram, the global cloud-based instant messaging and voice-over-internet platform has unveiled a coding competition for building smart contracts on the Telegram Open Network (TON) Blockchain.
The contest is split into three parts with prize funds for all tasks ranging from two hundred thousand dollars to four thousand dollars ($200,000 – $400,000). The company announced the competition on a Telegram Contests channel on 24th September and the contest will end on 15th October.
The primary part of the competition is the task to build one or more smart contracts, using the tools provided in the TON Blockchain distribution.
The two other optional tasks include improvements suggestions for TON Virtual Machine and FunC and TON Blockchain bug bounty contest, the company said.
The primary task of the competition is to create smart contracts using the tools present on the TON Blockchain distributed. The secondary task is making suggestions to improve the TON Virtual Machine. Another secondary task is the TON Blockchain bug bounty contest that involves detecting bugs in the network or its operations.
Telegram is hoping developers to implement at least one of the following:
- A multi-signature wallet
- A synchronous two-party payment channel
- An asynchronous two-party payment channel
- Two types of simple TON DNS Resolver smart contracts
Larger Prize for Bug Contest
The bug bounty contest requires participants to submit a detailed report including the bug’s description and the scenarios in which it can be exploited. Telegram explained.
If the developers manage to actually exploit this bug in the TON Blockchain by stealing some funds from the wallet of another person, they will be awarded a larger prize of up to $200,000 in addition to the $200,000 prize fund distributed among smart contract developers.
Telegram officially released the TON testnet explorer and node software on 6th September.