Representatives of the Telegram messenger announced a competition to create smart contracts for the Telegram Open Network (TON) blockchain platform.
According to the terms of the competition, participants should:
- create one or more smart contracts as described in the attached file;
- suggest improvements for FunC or the TON virtual machine;
- identify bugs and suggest fixes for the Telegram Open Network test network.
The prize fund ranges from $200,000 to $400,000, and the competition will end on October 16 at 01:00 EET.
The launch of the Telegram Open Network’s main network should take place no later than October 31, otherwise, in accordance with the agreement, the project is obligated to return funds to investors.
The TON blockchain will be based on the Proof-of-Stake consensus algorithm. The new system promises to be productive and multi-level. So, besides the main blockchain (Masterchain), the Telegram Open Network involves the support of many so-called shardchains and workchains.