As a result of the international situation, a bear market has prevailed in the stock, bond and crypto markets, and many projects have been submerged in recessionary market conditions. However, the tougher the market conditions are, the more the capabilities of the project are being tested. Recently, Fintoch, a DeFi project from North America, held a Hackathon Launch Event in Los Angeles on the 28th of October, showcasing the latest technological breakthroughs and achievements of the top-notch teams that have previously collaborated through the Prodigy Program. The CEO of Fintoch even announced the team’s subsequent key plan during the conference namely a financial public chain, which has ignited the enthusiasm of many crypto enthusiasts and cryptocurrency founders in the audience.
Fintoch is an innovative financial platform created by Morgan DF Fintoch from Silicon Valley. It has long invested in breaking through traditional financial difficulties with technology and even makes up for the shortcomings of decentralization. Fintoch offers multiple financial services, including lending, investing, borrowing and etc. Fintoch’s core feature, HyBriid, which incorporates technologies such as Multiple Signatures and Zero-Knowledge Proof has greatly contributed to the development of blockchain security.
In order to promote the development of blockchain technology and nurture related talents, Fintoch has previously held the Hackathon Prodigy Program, investing resources to attract top-notch blockchain technology talents and cryptocurrency founders from all over the world to participate. During the event, each team demonstrated their technological breakthroughs. Among them, there were many technologies with high application value from strengthening the security of smart contracts and improving the efficiency of transactions to preserving user privacy. This has also made the public look forward to collaborations between these technologies and projects and Fintoch in the future to accelerate the construction of a new decentralized financial ecosystem.
In addition, the CEO, Bob Lambert has said he will soon begin a global roadshow for the Fintoch public chain. The chain itself will natively support cross-chain, payment and other basic functions. In the future, Fintoch is planning to build a new decentralized financial ecosystem based on the public chain to link both online and offline economies to achieve virtual and reality integration and bring the FinTech progress a step further.
Bob Lambert also revealed the plan to conduct an internal testing of the public chain at the end of the year. Such test will prioritize the community users to participate in the six-month internal testing of the public chain and get a first-hand experience of the convenience of the Fintoch Financial Public Chain.
The success of Fintoch certainly gives confidence and support to the frustrated crypto market and proves to the industry that good projects can still take off in the bear market as long as they can really solve users’ pain points and serve the underlying needs without relying on hype or fame. At the same time, the talent and resources attracted by the Prodigy Program will make each and every move of Fintoch in the future to become the highlight of the industry, especially to meet the subsequent outbreak of the bull market, and it is very much anticipated how much value can be shown.