Key Take Aways From The Supernova Global Hackathon
The Supernova Hackathon is one of the biggest events this year in Crypto, and especially for Web3 Cryptocurrency Ecosystems that plan to rebuild the internet on the Blockchain with Chain Key Cryptography, Canister Smart Contracts and Full Intergration with other Top 10 Cryptocurrencies by market cap; Bitcoin and Ethereum are the main focus of integration but are not the only way The Internet Computer interacts with other Blockchains it also uses Meta Glue to make it more secure and less vulnerable to Bridge hacks and brings major Crypto players together which is the future!
The 1st thing I wanted to mention about the Supernova Event, is the fact that the current Web 3 Leaders like Ethereum and Solana, can store data on the Blockchain for it’s users. Ethereum was the 1st Blockchain I am aware of that was able to do this feature and of course it being the juggernaut it was able to corner the market and charge a hefty amount for it’s services such as $100,000,000 For 1 Gigabyte of data for 1 year on the Ethereum Blockchain. Well then comes Solana and does the same thing but much cheaper as the gas fees are lower and the ecosystem is just cheaper to use and more scalable. It charges just $522,000 for the same 1 gigabyte of data for 1 year on the blockchain. Much cheaper than Ethereum but still highly expensive. Then as Dominic Williams from the Dfinity Foundation pointed out, that the same 1 gigabyte of data stored on the Internet Computer Blockchain for 1 Year costs significantly less than Both Ethereum and Solana as it’s only $5 for the exact same 1 gig 1 year. So what this does, is it allows much more room for mass adoption because of the cheap gas fees and and being highly scalable, being able to handle Tons of transactions at Internet Speed. This is why The Internet Computer in my opinion will reach the Top 10 Cryptocurrencies by market cap within the next 5 years.
Now we are going to look at exactly what an event like this global hackathon does for a crypto project as well as the ecosystem and community. As you know the Internet Computer had it’s Genesis launch in May of 2021 and subsequintley blasted off to over $750 per Coin. Then it being at the end of the Bull Run as well as much manipulation by FTX and other entities that shorted the Icp futures before the Icp coin was still drying from Genesis. They used icp futures to try to devalue and eventually ruin this amazing project, that reimagines the Internet and Builds a web 3 ecosytem integrated with Bitcoin and Ethereum. Also as previously mentioned meta glue is used to interact with other cryptos by Icp without the need for bridges or the bridge hacks that come with it. So I will show you some charts that show what this kind of event does for an ecosytem and then it’s Coin price rises down the road that controls the governance for said ecosytem because of this hackathon event. Let’s just say it is exploding with developers, coders, builders, geniuses as well as financial investors all looking for the next generation of technology that will change how we interact with our money, Real estate, banking and many more life changing opportunities that come with a multi billion dollar blockchain project. Check out these cool graphs!
So in conclusion this event has surpassed all expectations, brought developers to the event and had some amazing outcomes as you could see the ecosystem is thriving and growing everyday. It’s cheaper, faster, more scalable and has some amazing people behind the project that give back help others and just have the type of vibes that make you believe in what they are doing. This event will help show the Crypto world what it takes to succeed and flourish in a changing world. As Bitcoin ATM’s pop up and ETF’s are in play, crypto is here to stay and the Internet Computer is changing the game and how Web 3 will be built on the Internet Computer. The Bitcoin integration is going to bring even more developers to the ecosystem as soon as it is live and same with Ethereum as Sonic, ICP SWAP and Infinity Swap lead the way to Defi for ICP. Now our next blog will be about Open Chat as well maybe an update on the btc integration.
Supernova Hackathon Video by Dfinity