In Barcelona earlier this month, we dove further into the depths of blockchain technology. As connoisseurs in this field, it was not only a chance to explore the latest innovations, but also to be able to meet again relationships within the industry. With events like Hackerhouse and Smartcon we got a clear picture of the progressive solutions within the Web3 world.
The first stop on our technology journey was the Hackerhouse, where we spent two days. The highlight was undoubtedly the hackathon (an event where programmers come together to work on software projects), where several teams had the chance to compete for a reasonable prize pool of $30,000. The goal was clear: the various blockchain-applications to create an innovative new product.
Developers dive deep into Web3 developments at the HackerHouse
In addition to the hackathon, there were also educational sessions that helped the attending developers implement different use cases. In the starting room, we followed the instructor attentively and learned how to get our own token (digital asset on the blockchain) and smart contract could launch. With the help of Ethereum(an open-source blockchain platform), we were able to purchase our own token, which resulted in us obtaining a real Six Capital token, w ell as a test token.
Fictitious variant of the Six Capital Token
CCIP (Blockchain connector)
Our learning curve went upward during an advanced session where we explained the principles of CCIP (Cross Chain Interoperability – a protocol that lets different blockchains communicate with each other). We created an NFT minting smart contract (a contract that creates unique digital assets, Non-Fungible Tokens) on the Avalanche network (an open-source platform for financial applications) that we were able to access from Ethereum via CCIP, which allowed an NFT to be minted on Avalanche and immediately transferred to Ethereum.
A Dive into the Gaming World
The conclusion of the hackathon was celebrated with an evening of gaming, focusing on various Web3 games. While trying out these games, we came to the realization that Web3 gaming still has a long way to go before it becomes a sustainable investment. The focus should be on creating engaging games that people actually want to play, before building a Web3 ecosystem around them.
Fundamental analyst Remco Aarssen during an interview at the Hackerhouse
Reflections and Prospects
This part of this journey significantly broadened our technical understanding of blockchain applications and gave us a clear idea of how tokens, smart contracts and multi-chain (the collaboration of different blockchains) actions work. We now see much more clearly the challenges and opportunities ahead, especially in the area of CCIP.
While we believe that the gaming and metaverse (virtual worlds in which users can interact) sectors are not yet ready for the mainstream, unless an existing game decides to move in the Web3 direction, we are optimistic about the future possibilities that blockchain technology can offer.
During our time in Barcelona, we gained many new insights and developments. Below you will read the two sequels that you definitely don’t want to miss.
Part 2: Read HERE how a giant like Google has increased the synergy between Web3 and AI in the spotlight.
Part 3: Read HERE about SWIFT its plans to move 11,000 banks to Web3 guidance.