Legasys team wins FundFad Hackathon 2021, timely impetus to usher in its Ecosystem launch.
The Legasys team, led by the famous Bitcoin Man Herbert Sim, took the laurel wreath in FundFad Hackathon 2021 themed ‘Innovative solutions for ERC20 standard tokens’. Joint runner-ups Kryptec and UsCoin also made the cut out of over 100 participants from all over the world.
The hackathon, which was coincidentally set against the backdrop of a tremendous bull run by crypto coins since 2021 kicked off, highlighted the increasing relevance of cryptocurrencies since Bitcoin made its debut in 2009.
Organizer FundFad.com announced the winners chosen by a panel which included Binance (a cryptocurrency exchange), Ethereum.org (originator of ERC20 tokens), CIMB Bank, MasterCard (co-sponsor), and LuneX Ventures (Crypto VC).
According to FundFad, the winner this year was particularly outstanding for its proposal of Zero Gas fee environment for ERC20 blockchains, which is both groundbreaking technically and highly implementable.
‘We found that Legasys’ proposal of a Zero Gas fee environment in a world facing increasing crypto transaction cost is both highly relevant to the times and commercially viable. Technical wise, our panel had found the solution to be innovative but realistic.
This alone had secured its winning place in our Hackathon this year, but we also noted that the team had gone one step further in building a case for a holistic Ecosystem, which included ERC20 standard dual tokens, a blockchain layer 2 solution and a practical bridge between crypto coin and fiat currency.’
When interviewed, Mr Herbert Sim confirmed that the working paper submitted for the Hackathon was in fact a blueprint for an actual crypto project going by Legasys Ecosystem which is already at T-minus launch stage.
‘Yes, we did not enter this contest as an academic exercise, but rather as a rubber-meets-the-road precursor for the actual launch of our Legasys Ecosystem, which will be soon.’
Mr Sim declined to confirm an actual date, but it is understood that Legasys Ecosystem will be launched in Q2 2021.