HAQQ, a decentralized network at the helm of ethical and Shariah-compliant Web3, announced a $50,000 bounty for the Istanbul Blockchain Week hackathon. The high-stakes competition invites the world's most talented Solidity developers to test their skills and bring their best innovations forward.

ISTANBUL, TURKEY - August  24th, 2023 - HAQQ (Islamic Coin), a decentralized network promoting fair, ESG-forward, and Shariah-compliant decentralized finance, announced a $50,000 bounty Istanbul Blockchain Week hackathon to foster ethical finance developments. Participants can register here, starting August 10th, 2023.

Alex Malkov, the CEO of HAQQ, shared his enthusiasm for the event, "We're excited to be the catalyst for such an important occasion, one that nurtures a synergy of technology and ethical principles. The IBW hackathon sponsorship is more than just an investment in technology; it's an investment in people, creativity, and a future where Web3 means fairness, sustainability, and cross-cultural collaboration."

The hackathon aims to nurture and incubate solutions that promote positive societal change and ethical finance. Using Solidity programming language, participants will highlight the distinctive values of HAQQ Network's EVM-comparable chain:

  • Ethical Finance: Developing smart contracts and decentralized applications that adhere to Shariah-compliant principles and promote ethical finance practices.
  • ESG-Powered Solutions: Building applications that contribute to environmental, social, and governance (ESG) powered change, addressing real-world challenges through decentralized technology.
  • Interoperability: Demonstrating the seamless deployment of existing smart contracts from other EVM chains onto the HAQQ Network and showcasing the chain's interoperability capabilities.
  • Inclusivity and Accessibility: Creating solutions that empower and include underrepresented communities, fostering financial inclusivity and accessibility for all.

Participants will compete in the Decentralized Finance (DeFi) for Social Impact track, themed "Empowering Ethical Finance Through Decentralization". The main challenge of the hackathon reads as follows: "Ethical Decentralized Finance (DeFi) Platforms: Design and deploy DeFi platforms that comply with Shariah principles, enabling ethical financial services and products for users."

Powered by the Cosmos SDK and the Tendermint Core consensus engine, HAQQ presents a scalable, high-throughput Proof-of-Stake blockchain. It operates with full Ethereum compatibility and interoperability, unlocking access to Ethereum's reach features, which, paired with Tendermint's PoS, create a high-performance, fast, and secure blockchain environment. 

This makes HAQQ a profound fusion of key blockchain features:

  • Web3 and EVM compatibility, 
  • Exceptional throughput via Tendermint Core, 
  • Horizontal scalability through Inter Blockchain Communication Protocol (IBC), 
  • Rapid transaction finality. 

Such architecture incorporates Ethereum's 'geth' as a library, providing a fully compatible Web3 JSON-RPC layer. Developers can harness established Ethereum tooling and software to seamlessly deploy smart contracts that communicate fluidly with the broader Cosmos ecosystem.

"HAQQ's commitment to ethical blockchain solutions aligns with the mission of Istanbul Blockchain Week. This hackathon is an exciting opportunity to harness the power of collective innovation and inspire the next generation of developers," commented Erhan Korhaliller, the founder of Istanbul Blockchain Week. "In an industry where collaboration is key, such events bring forth a wave of progress and transformation that extends beyond our immediate community to shape the global landscape of blockchain technology and ethical finance."

Istanbul Blockchain Week, scheduled for August 22nd - 23rd in Istanbul Hilton Bomonti Hotel, is the perfect backdrop for this landmark event, highlighting the convergence of technology, finance, and Islamic values in a hub renowned for its enthusiasm for crypto and Web3.

About HAQQ

HAQQ is an ethics-first network that brings together sustainability-centered developers, validators, open-source contributors, and Muslim innovators in sustainable finance. As an EVM-equivalent chain based on Cosmos SDK, HAQQ's innovative technology allows for the seamless deployment of smart contracts from other EVM chains. HAQQ aims to create a fairer, more sustainable financial system by balancing Shariah-compliant philosophy with cutting-edge technology, using Shariah Oracle - an on-chain registry of Halal Certificates that assures compliance with Islamic principles. HAQQ ensures its users interact exclusively with whitelisted and Shariah-compliant dApps, minimizing unethical or Haram activity within the network. Learn more about HAQQ at haqq.network.

About Istanbul Blockchain Week

Istanbul Blockchain Week is an annual event that brings together blockchain enthusiasts, industry experts, and thought leaders from across the globe. Following its remarkable success in November 2022, which witnessed an impressive turnout of over 4,000 attendees and featured 120+ international and Turkish speakers such as Yoshihisa Hashimoto, Changpeng Zhao, Ziya Altunyaldız, and Şant Manukyan, IBW sets to return toTurkey'ss prominent crypto hub from August 22nd to 23rd. As a dynamic platform for networking, knowledge sharing, and exploration of the latest advancements in blockchain technology, Istanbul Blockchain Week creates an environment conducive to collaboration and innovation. The event offers attendees a diverse program featuring keynote speeches, panel discussions, workshops, and exhibitions that delve into various aspects of Web3. Istanbul Blockchain Week presents a unique opportunity for individuals to immerse themselves in the blockchain world and connect with like-minded visionaries actively shaping the future. To learn more about HAQQ, visit istanbulblockchainweek.com.