IOVLabs, a prominent leader in the blockchain technology space, has launched a $2.5 million strategic grants program to promote the growth and use of Rootstock, the first Bitcoin sidechain and a burgeoning center of DeFi activity on the Bitcoin network.
The program was unveiled today at the first-ever Bitcoin Builders Conference in Miami, a trailblazing gathering for Layer 1 and Layer 2 developers of the cryptocurrency.
IOVLabs also announced the start of a Hackathon in collaboration with HackerEarth, a worldwide community of over 4 million hackers, to find qualified applicants for the grant program.
An ideation stage, a development stage, and a final pitch to an elite panel of judges from the Bitcoin and Rootstock ecosystems will all be included in the hackathon, which will span from May through July. The application process is open to blockchain developers from across the globe.
Since Rootstock and the Ethereum Virtual Machine (EVM) are compatible, no previous programming experie
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