LONDON -- JUNE 29, 2020 -- Telos (www.telos.net), one of the most active blockchain platforms in the world according to Blocktivity, today announced a partnership with hackathon management platform TAIKAI to deploy transparent hackathon voting and token incentives on the blockchain. The Telos network will provide TAIKAI a simple, cost-effective, blockchain-based voting mechanism that enables competition evaluation that is fully transparent and auditable by any stakeholder. For both hackathon participants and evaluators, the Telos network will be used to reward stakeholders with token incentives that can be used within the TAIKAI economy.
“TAIKAI gives us one more vital space where shareholders are seeing value in the Telos blockchain governance system,” said Suvi Rinkinen, CEO of the Telos Foundation. “As remote work grows, initiatives like online hackathons that can allow for remote governance via consensus mechanisms are more important than ever.”
As part of the partnership, TAIKAI will also join the newly renamed Telos Boost Accelerator program. The Telos Foundation will provide assistance to TAIKAI in technical implementation, marketing, and business development. As a member of this program, TAIKAI will receive invaluable assistance and mentorship from Telos Foundation staff, partners and community.
“TAIKAI is a community-driven platform and we look for like-minded partners that can help us create a network effect,” said TAIKAI CEO Mário Ribeiro Alves. “Fortunately, we’ve found TELOS, and we knew from the first meeting that we were completely aligned. I’m confident we’ll build a great future together as we connect companies with innovative teams to solve real-world challenges.”
“TAIKAI is an ideal partnership for Telos because we are both interested in bringing the power of blockchain to use cases that can make an impact today, as well as in the future,” said Telos Chief Architect Douglas Horn. “TAIKAI is ready now to present hackathons that can not only help find solutions for pressing problems, but also help organizations discover new talent for employing their existing technologies in new and creative ways.”
Telos has seen an impressive trend of projects moving to its platform to optimize performance and scalability. The recent release of Telos EVM allows Ethereum smart contracts written in Solidity to run faster and without fees on Telos. Social impact startup All_EBT recently tapped Telos to bring its virtual food stamps to the blockchain. Interoperability platform Transledger uses the Telos blockchain to power fast and secure cross-chain transactions. Newlife, a platform for artists, fashion designers, and celebrities to test new ideas, will use the Telos blockchain for rewards, governance, and voting. Murmur, the privacy-focused social media DApp, is moving from EOS to Telos to improve resource efficiency and network costs.
TAIKAI helps organizations run open innovation challenges and hackathons as an online management tool. TAIKAI’s open innovation social network acts as the facilitator for these open innovation challenges, with a token-based system that rewards the best innovators and evaluators based on competition results. For more information, please visit https://taikai.network.
Telos is a high-capacity network and the second most active blockchain platform in the world according to Blocktivity. Telos features a robust, third-generation blockchain governance system including advanced voting features and smart contracts that can be fully configured to meet the needs of any developer. Created by developers for developers, Telos extends its state-of-the-art blockchain and governance features to all DApps on its platform, delivering the best user experience in the marketplace. Telos also supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications. For more information, please visit www.telos.net.