TopCoder is another nice and really fascinating website founded by Jack Hughes (founder of Topcoder, Inc.). TopCoder.com is a contest site. You can compete in several different competetions such as Algorithms, Design, Development and two other called "marathon matches" and "studio" competitions. In these competitions, you can earn money. You can even make a living from this site.
Topcoder is famous for their SRMs. Single Round Matches are held every week. You are given 75 minutes to solve 3 questions according to your level. After solving, you can have a look at other solutions submitted. If you wish, you provide some test cases, If the code fails for your test case, you gain extra points. Finally, system tests the solutions. According to the points you collect from SRMs, you are classified as a Red, Green, Yellow, .. member.
Topcoder also have partners that desire to hire talented people from this site. (Facebook, Paypal, Alcatel, Nasa etc.). They care about SRMs the most. If you do well, you can get hired by facebook!
According to rankings change, you can be selected as the Coder of The Month. It is an honor to be selected.
One final note: There are useful algorithm tutorials submitted by members. They help a lot!
To learn, have fun and practice:
Topcoder
http://www.topcoder.com
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