1st Ever Blockchain Developer Challenge announced by VeChain Foundation

Winners to be Awarded at VeChain Summit in San Francisco in April 2019

SHANGHAI,Feb. 25,2019 -- VeChain,a leading global enterprise level public blockchain platform with tens of thousands of active community members,announced three ongoing developer bounties and their first Application Development Challenge to support the motivated and dedicated developers. The program focuses on providing programs that allow developers to attract users and garner the exposure to attract investors by boosting the development of qualified applications and business emerging from public blockchain technology.

The Foundation claims that one of the primary strengths,regarding the VeChainThor Blockchain for commercial applications,is that the users themselves do not always have to pay for the transactions allowing situations where non-technical users can have their transactions paid by application owners or sponsors. This unique take allows everyday consumers to get the full value out of blockchain technology without ever creating a wallet,buying or owning cryptocurrency.

The challenge,entitled VeChain Application Development Challenge,leading up to the VeChain developer conference--VeChain Summit 2019 scheduled on April 18 at Fort Mason,San Francisco--will have a total reward pool of over $170k USD. All developers whose applications are live on the VeChainThor mainnet can participate. Among all the applicants,5 applications voted by the VeChain community and 3 applications selected by the VeChain Foundation Assessment Team will share the prize. The winning teams will also be showcased by the Foundation and ecosystem builders to various enterprises and funds that are looking to bolster their influence within this area.

On April 1,a list of submitted applications will be published for community voting. The community voting will be concluded based on the result at 11:59 pm UTC+8,April 12th. Applications submitted after this time will not be eligible for this challenge. Once the community voting is concluded,the Foundation Assessment Team will evaluate all eligible applications and select the top 3 applications to win the Foundation Awards. All prizes will be announced during the VeChain Summit 2019 on April 18.

Submitted applications will be added to the VeChain application store set to launch soon.

To better serve the diversified developers,VeChain organized three ongoing bounties,Application Idea Hunt,VeChainThor Supercharger and Developer Academy Bounty where the selected applications will also be rewarded based upon the Foundation Assessment Team's judgment.

To participate and learn more about the bounties and the challenge,please visit:

https://appdev.vechain.org/

About VeChain:

Starting in June 2015,VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure,a robust economic model,and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology,with international operations in Singapore,Luxembourg,Tokyo,Shanghai,Paris,Hong Kong,and San Francisco.

For more detailed information,please contact press@vechain.com or visit www.vechain.org.

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