Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Telegram’s $100,000 contest asks developers to create an algorithm that can segregate useful and identical information and present it to the users.
As on date, a massive amount of data and content is being created and shared every second on the internet. Messaging apps like WhatsApp, Messenger, and Telegram have been the hot mediums to move data. One of the major challenges these companies are facing today is to segregate the right information.
With such massive data available, users are usually overwhelmed with excess data. Now, to enhance the user experience, messaging giant Telegram has come up with a new Data Clustering Contest for its developers. The contest asks developers to build an algorithm which can group identical information and news of similar category and present it to the users. Some of the key points Telegram wants in the algorithm include:
1. Identifying content in English and Russian and discards the rest.
2. Identifying news articles from the result of (1) and discards the rest.
3. Classifies each news piece from the result of (2) into one of these 7 categories: Society, Economy, Technology, Entertainment, Science, Sports and Other.
4. Identifying news pieces about the same event and groups them together into news threads.
5. Sorting news threads based on perceived importance.
Participants of the contest have been given a deadline to submit their solutions to the Telegram team by December 2. The developers providing the best solution will get a price refund of $100,000. Furthermore, they will be automatically admitted to the second stage of the contest wherein they can apply for another price money of $100,000.
Telegram Flexing Muscles for the GRAM Token Launch
There’s a lot of fuss going around the launch of Telegram’s GRAM token after it was flagged as a ‘security’ by the U.S. SEC thereby stopping its launch in October 2019. On the other hand, Telegram claims that it has done nothing unlawful with the sale of its token last year to early-stage institutional investors.
Last week, the messaging giant appealed to the New York Southern District Court to discard all the allegations levied against it. On the other hand, the investors have shown support for Telegram’s GRAM tokens and its underlying TON blockchain network. After the SEC, Telegram asked its investors to take the refund as they currently cannot distribute the tokens. However, instilling trust in Telegram, the developers refused for the refund and said that they are ready to wait until the matter gets resolved with the SEC.