UPDATE: Cronos has just launched the x402 PayTech Hackathon, a global initiative offering $42,000 in prizes, aimed at revolutionizing the future of AI-powered blockchain payments. Developers from around the world are now invited to participate in this exciting challenge, which emphasizes the integration of agent-based payment technologies and the Crypto.com AI Agent SDK.
This urgent initiative aligns with Cronos’ vision to become a cornerstone for institutional tokenization and AI-enhanced finance. Recent upgrades to the Cronos and Crypto.com ecosystem have resulted in a staggering tenfold reduction in gas fees and a 400% increase in daily transaction volume. With block times now under one second, Cronos is positioning itself as a robust platform for building high-performance AI-native applications.
Participants will have the unique opportunity to explore automated transaction flows, AI-powered smart wallet behaviors, and real-world asset integrations. They will also have full access to Cronos’ infrastructure, enabling them to develop solutions that bridge traditional finance and decentralized protocols, potentially reaching millions of users globally.
Registration is officially open today on DoraHacks, with the build phase scheduled to run from early December 2023 through late January 2024. “This hackathon is a testing ground for what happens when AI agents can not only process data but also move value,” stated Mirko Zhao, Head of Cronos Labs. “Thanks to our recent upgrades and new developer frameworks, teams now have the tools they need to bring real AI-native applications to life. We’re excited to see what comes out of it.”
Developers participating in the hackathon will benefit from workshops, live office hours, and an extensive resource library covering everything from the Cronos EVM to x402’s programmable payments. Top teams may also be eligible for grants, incubation, and further collaboration within the Cronos ecosystem post-hackathon.
Cronos is a blockchain platform supported by Crypto.com and more than 500 contributing developers and partners. It serves over 150 million users and is dedicated to creating DeFi infrastructure that enhances the accessibility, security, and scalability of tokenized assets.
The Cronos ecosystem is comprised of three networks:
– Cronos EVM: An Ethereum-compatible chain built with the Cosmos SDK
– Cronos POS: A Cosmos-based network optimized for payments and NFTs
– Cronos zkEVM: A high-speed Ethereum Layer 2 secured by zero-knowledge proofs
With more than $6 billion in user assets and over 100 million transactions processed, Cronos ranks among the top 15 blockchain ecosystems. The native token, $CRO, is used to pay transaction fees on the network.
As the hackathon unfolds, stakeholders and developers will be eager to see innovations that could reshape the landscape of decentralized finance. For more details, visit cronos.org or follow @cronos_chain on X.
Stay tuned for more updates as this exciting event develops!
