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Ethereum Foundation funds ETH Beijing Hacksong; prioritize public goods, L2 applications, and open research

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On March 7, the blockchain association of Peking University tweeted that ETH Beijing Hacksong had received funding from the Ethereum Foundation. The Hacksong ma

Ethereum Foundation funds ETH Beijing Hacksong; prioritize public goods, L2 applications, and open research

On March 7, the blockchain association of Peking University tweeted that ETH Beijing Hacksong had received funding from the Ethereum Foundation. The Hacksong main track is: public goods, L2 applications, and open research. At present, ETH Beijing Hacksong has been sponsored by the Ethereum Foundation ESP, Scroll, and Mask Network, with a total prize pool of 30000 dollars.

ETH Beijing Hacksong received funding from the Ethereum Foundation

Analysis based on this information:


The blockchain association of Peking University announced on March 7 that the Ethereum Foundation has provided funding to the ETH Beijing Hacksong event, a hackathon-like competition for developers working on Ethereum-based solutions. The Hacksong main track for this year’s event focuses on the development of public goods, L2 applications, and open research.

ETH Beijing Hacksong has already secured sponsorship from several companies such as ESP, Scroll, and Mask Network with a total prize pot of $30,000. The new funding from the Ethereum Foundation is set to increase the rewards and help entice more developers to attend.

The selection of the three priority tracks is a strategic decision made by the organizers to ensure the development of more robust and sustainable applications on the Ethereum network. Public goods in this context refer to applications that benefit the entire blockchain community rather than being exclusive to a particular set of users.

L2 applications refer to the layer 2 scaling solutions that are currently under development to address Ethereum’s high transaction fees and slow confirmation times. L2 applications aim to take the computational load off the main Ethereum network and allow for faster and cheaper transactions.

Finally, the open research track is designed to encourage developers to explore new and innovative applications of blockchain technology beyond the current use cases. This could include the exploration of new consensus algorithms, innovative tokenomics, and governance mechanisms.

The decision of the Ethereum Foundation to fund ETH Beijing Hacksong shows its commitment to the development of the Ethereum ecosystem. By providing financial support to promising developers, they help accelerated the development of Ethereum-based solutions, which could lead to real-world applications and use cases.

In conclusion, the ETH Beijing Hacksong event is set to benefit from the new funding from the Ethereum Foundation. The three priority tracks selected by the organizers will ensure the development of robust and sustainable applications on the Ethereum network. With the addition of new rewards, more developers are likely to attend, which could lead to the creation of more innovative solutions with broader applications beyond the blockchain space.

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