BNB Attestation Service (BAS) has launched the “Make BNB Greater” Hackathon to celebrate the release of former Binance CEO, Changpeng Zhao from prison. The firm made the disclosure on Tuesday via a post on its official page on X (formerly Twitter).
According to the project, the initiative is sponsored by some renowned organizations within the BNB ecosystem. In a similar post, BAS acknowledged firms like SpaceID, UXUY, ZK Pass, and Open Social among the top contributors.
As revealed, the partners put together $50,000 to support emerging projects with the potential to contribute to the growth and mainstream exposure of the BNB ecosystem. However, unlike other similar initiatives, the Make BNB Greater Hackathon will see community members become judges in deciding the best-qualified winners.
Consequently, BAS will include a voting system that will permit community members to determine the best projects. According to BAS, the hackathon isn’t to celebrate the return of the former Binance boss alone but to also push the growth of the BNB chain.
Insight Into CZ’s Jail Term And Impact on BNB Token
Recall that on September 27, 2024, the former CEO of Binance, Changpeng Zhao officially completed a four-month jail term for failing to set up proper Know-Your-Customers measures on the exchange.
During his jail term, CZ spent three months at a low-security prison, on the central coast of California. Thereafter, around late August, the U.S. authorities moved the ex-Binance boss to a halfway house in San Pedro, California.
According to reports, the crypto billionaire left Los Angeles in a private plane. The news about the release of CZ has raised bullish sentiments on BNB. A handful of Investors and community members are optimistic that the news will push the token to new price heights.
Despite these rumors, the token has reflected no significant price improvement. In the last 24 hours, the BNB token has plunged by 1.1%. According to Coingecko, BNB is presently trading at $574.38, a 1.2% price increase in the last seven days.
Side Note On BAS
It is worth mentioning that the BNB Attestation Service (BAS) is an innovation developed on the BNB network to generate attestation for information verification. The infrastructure assists users with on-chain and off-chain verification, ensuring data privacy and access control.
Additionally, the BAS functions as a standard for generating arbitrary attestations. At its core, the innovation comprises components like schema, revolver, and attestation.
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