{"id":528045,"date":"2022-12-16T13:38:07","date_gmt":"2022-12-16T10:38:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/build-on-bitcoin-a-better-platform-for-web3-says-lightning-contest-founder\/"},"modified":"2022-12-16T13:38:07","modified_gmt":"2022-12-16T10:38:07","slug":"build-on-bitcoin-a-better-platform-for-web3-says-lightning-contest-founder","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/build-on-bitcoin-a-better-platform-for-web3-says-lightning-contest-founder\/","title":{"rendered":"# Build on Bitcoin, &#8216;a better platform for Web3,&#8217; says Lightning contest founder"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f2b33c2411\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f2b33c2411\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/build-on-bitcoin-a-better-platform-for-web3-says-lightning-contest-founder\/#%E2%80%9D_Build_on_Bitcoin_%E2%80%98a_better_platform_for_Web3_says_Lightning_contest_founder_%E2%80%9C\" >&#8221; Build on Bitcoin, &#8216;a better platform for Web3,&#8217; says Lightning contest founder &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Build_on_Bitcoin_%E2%80%98a_better_platform_for_Web3_says_Lightning_contest_founder_%E2%80%9C\"><\/span>&#8221; Build on Bitcoin, &#8216;a better platform for Web3,&#8217; says Lightning contest founder &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-30a6cf80>Bear markets are for building Bitcoin (BTC) companies. At least, that\u2019s what the Legends of Lightning, a nine-week contest for competing Bitcoin businesses, would indicate.\u00a0<\/p>\n<p>The tournament-come-hackathon ran more than 65 events worldwide as 73 projects battled it out to win 3 BTC ($50,000). The competition crowned Bitcoin startups Lightsats and AgriMint as winners of two separate competition tracks, Global Adoption and Building for Africa. <\/p>\n<p>Organized by Bitcoin startup Bolt Fun, the competition brought together 260 makers (builders, developers, startuppers and hackers) worldwide. Speaking to Cointelegraph via Google Meet, Johns Beharry, co-founder of Bolt Fun and founder and CEO of Peak Shift, explained that the hackathon is the largest yet in the Bitcoin economy: \u201cThere is nothing remotely close to this,\u201d he said.<\/p>\n<p>The idea behind the competition was to \u201cOnboard new makers into the ecosystem, innovate on bitcoin and lightning, and help new or existing projects incubate their ideas and turn dreams into a reality.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/54dc58e6-b99e-45ba-bbb0-cde5b5d00871.jpeg\"><figcaption style=\"text-align: center;\">The competition seeks to drive more talent to build in the Bitcoin space. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>\u00a0\u00a0<\/figcaption><\/figure>\n<p>In addition, the competition showcases the Bitcoin development space as an arena for developing, tinkering and experimenting in ways that would wow Web3 builders. Edward Pratt, cofounder of Bolt Fun and a Senior Product Designer highlighted that team at Bolt Fun are laser-eye focused on pushing Bitcoin adoption through building companies and expanding the Bitcoin community into other domains: <\/p>\n<blockquote><p>\u201cThe essence of it is that other developer ecosystems are massive. We want to do our part to push bitcoin to compete for mindshare and attention on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication layer.\u201d<\/p><\/blockquote>\n<p>As shown in the graph below, Bitcoin has fewer developers than Ethereum and Polkadot. While Bitcoin is by far the largest and most recognized cryptocurrency, data would suggest that Bitcoin is not the space that developers and builders flock to.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/46873171-413c-4d16-b9f5-1ee851712200.png\"><figcaption style=\"text-align: center;\">Graph to show developers by crypto ecosystem in 2020 and 2021. Source: Electric Capital<\/figcaption><\/figure>\n<p>Pratt and Beharry conclude that Web3 ecosystems such as Ethereum (ETH), Solana (SOL), Polkadot, and Cosmos are drawing interest and talent away from the Bitcoin-building space, despite the fact that Bitcoin offers the only decentralized infrastructure worth building on. The Legends of Lightning competition is an attempt to remedy the situation and highlight the wealth and depth of opportunities to build on Bitcoin. <\/p>\n<p>Solana Hackathons offer massive prize money, and this summer, over 350 projects pitched to win a $5 million treasure chest. First prize at The Legends of Lightning, by comparison, gifted 3 BTC ($50,000) to one of the 73 competing projects, one-hundredth of the total prize money. <\/p>\n<p>Pratt continued, \u201cIt goes to show the difference between the Bitcoin ecosystem and other ecosystems such as Solana.\u201d Ultimately, the Bitcoin space competes for builders and developers that take part in Web3 playgrounds such as Solana and Ethereum. <\/p>\n<blockquote><p>\u201cThere\u2019s definitely a lot of activity [in Bitcoin] but we\u2019re not seeing as much inventiveness in Bitcoin just yet.\u201d<\/p><\/blockquote>\n<p>Curiously, the winner of the competition, Lightsats built their project based on an idea shared in a Tweet from Bitcoin entrepreneur Brad Mills. The tweet set off a lightning-fast chain reaction of Bitcoin creation. Within a matter of weeks, Lightsats built their \u201cPrecoiner onramp project,\u201d submitted it to the team at Bolt Fun, and won the Global Adoption competition.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We won!I\u2019m going to frame this! Where it all started! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/wLC6Yd8ica\">pic.twitter.com\/wLC6Yd8ica<\/a><\/p>\n<p>\u2014 Lightsats (@Lightsats21) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Lightsats21\/status\/1600599547859898387?ref_src=twsrc%5Etfw\">December 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>One of the ways of drawing more people to participate and build on Bitcoin is by reaching out to developers working in other ecosystems, Pratt explained. \u201cWe want to target people on the fringe of crypto and Web3,\u201d it\u2019s a question of \u201cHow do we get the narratives to talk to those people,\u201d Pratt pondered. <\/p>\n<p><strong><em>Related:\u00a0Bitcoin advocate dishes out sats over Lightning Network to raise BTC awareness<\/em><\/strong><\/p>\n<p>Beharry joked that it could happen naturally; \u201cYour web3 platform is offline, Bitcoin fixes this,&#8221; referring to the numerous occasions the\u00a0Solana blockchain simply stopped working.\u00a0<\/p>\n<p>The Legends of Lightning team hopes to repeat the event annually with heftier prizes, more entrants, and more creativity. The goal is to reach 1,000 entrants next year \u2014a considerable leap from its current standpoint.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-is-a-better-platform-for-web3-says-lightning-competition-organizer\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Build on Bitcoin, &#8216;a better platform for Web3,&#8217; says Lightning contest founder &#8220; Bear markets are for building Bitcoin (BTC) companies. At least, that\u2019s what the Legends of Lightning, a nine-week contest for competing Bitcoin businesses, would indicate.\u00a0 The tournament-come-hackathon ran more than 65 events worldwide as 73 projects battled it out to win&#8230;<\/p>\n","protected":false},"author":1,"featured_media":528046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/bcc4cfec-e7e2-459c-8a2f-4156c4d2293c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,93542,74355,71393],"class_list":["post-528045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-web3","tag-adoption","tag-competitions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=528045"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/528046"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=528045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=528045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=528045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}