Idena is working towards the best decentralized governance design and is building the instruments that will make it possible. Our ultimate goal is to have governance mechanisms for the Idena blockchain development fully driven by the community and co-funded by the Idena protocol as well as to provide decentralized means of governance and funding to any other projects.
The first step towards decentralized governance
Launching Idena oracles and predefined smart contracts in December 2020 lays the foundation for the decentralized governance we are striving at. OracleVoting, TimeLock, OracleLock, Multisig M-of-N and RefundableOracleLock smart contracts allow creating votes and unblocking coins based on the results of oracle voting.
The Idena network is essentially a network of oracles, with over 5K mining nodes each of which has equal voting power and belongs to a certain individual. This level of decentralization is not achievable without Idena’s proof-of-person anti-Sybil protection mechanism.
Hackathon series: Dapps on top of Idena smart contracts
As the next step towards decentralized governance and quadratic funding mechanism implementation, Idena is launching a series of hackathons to build Dapp websites on top of predefined Idena smart contracts. The hackathons are aimed at bringing use cases to Idena and popularizing Idena smart contracts.
The $10K+ prize pool of the first two hackathons will be funded with the Idena foundation wallet funds (paid in iDNA). You need to build a dapp using any of the predefined Idena smart contracts to earn a prize.
Hackathon 1: Integrate TimeLock or Multisig smart contracts
Dapp examples:
- Multisig wallet and Timelock wallet, a website that allows any validated or not validated Idena user to create a wallet controlled by multiple members or to create a wallet with a specified unlock time — and thus enables community management of funds.
Read more here.
Hackathon 2: Build an oracle-driven dapp using RefundableOracleLock smart contract
Dapp examples:
- Decentralized Kickstarter, a website that allows any validated or not validated Idena user to create a wallet to collect funds for a project. Coins of such a wallet will be unlocked at a certain moment in the future based on the results of an oracle voting. If the criteria specified in the voting are not met (oracles voted against), the money is returned to all donors. We regard it as an important step towards quadratic co-funding as such a website will provide a mechanism for community funding and co-funding of projects by partners/sponsors.
- Prediction market, a website that allows taking bets on events for already created OracleVoting contracts that will be launched on a certain date in the future. When OracleVoting starts, the fact of an event occurrence is certified by oracles. The losing side’s coins are sent to the winning side’s contract. The coins of the winning side are distributed to the winners in proportion to their bets. This complex development may become a contribution to the concept of decentralized insurance.
Read more here.
How to participate
Please check details via the links below, apply and submit results in comments to the issues on GitHub:
- Hackathon 1: Integrate TimeLock or Multisig smart contracts
- Hackathon 2: Build an oracle-driven dapp using RefundableOracleLock smart contract
The hackathons dates are February 10 — March 3, 2021, the submission deadline is 18:00 UTC, March 3, 2021.
Hackathon prizes
Please check the prize pool details and the judgement criteria in the hackathons descriptions on GitHub. The decision on awarding of the prizes will be made on the basis of voting by Idena network participants and expert opinion (the Idena team and community developers). The size of the awarded prize will depend on complexity and quality of the submission.
The Idena team may consider funding further development of the winning solutions governed by the oracles voting.
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Unique cryptoidentity is the building block of the decentralized future. Privacy-preserving, self-managed, and valid globally, it enables online governance based on “one person — one vote” principle as well as quadratic voting and funding. We see the Idena smart contracts hackathon series as an essential contribution to creating more democratic and open governance mechanisms for everyone.
Your input will be much appreciated: Please participate in the hackathon, share this information with your network or support Idena in fulfilling its mission.
About Idena
Idena is the first proof-of-person blockchain where every node is linked to a cryptoidentity — one single person with equal voting power. Idena is one of the most decentralized blockchains.
To start mining Idena, you need to prove you’re a unique human. It does not require the disclosure of any personal data (no KYC). You have to appear online when the validation ceremony starts and solve a series of flip-tests (CAPTCHAs).
The Idena protocol solves the blockchain oracle problem: Its independent mining nodes can act as oracles across various blockchains. Idena accounts are compatible with Ethereum.
