The Binance Good Chain has launched a $10 million bug bounty fund for tasks constructing on high of the protocol, referred to as “Precedence One.” The initiative goals to maintain the blockchain community safe by encouraging bug bounty hunters and moral hackers.
Binance Good Chain Reveals $10 Million Bug Bounty Fund ‘Precedence One’
Safety consultants and bug bounty hunters now have incentive to assist the Binance Good Chain (BSC) builders safe the community. On Monday, the BSC challenge revealed “Precedence One,” a $10 million fund for tasks constructed on high of the BSC protocol.
The announcement says the initiative goals at “refining the lifecycle administration of BSC customers and lowering challenge exploits.” Eligible tasks will be capable of leverage proactive penetration testing and danger administration schemes. Julian Tan, the BSC neighborhood coordinator, defined that a majority of these evaluations shrink the potential for future exploits.
“The shortlisted tasks for the bug bounty shall be open for steady testing,” Tan mentioned in a press release despatched to Bitcoin.com Information. “With extra consultants figuring out particular vulnerabilities and evaluating [decentralized apps] commonly, there’s extra to discover; BSC neighborhood will work collectively to examine each nook and nook of the goal and go away no room for potential exploits.”
Immunefi CEO: ‘Bug Bounties Compel Disclosure Incentive for Mainnet Contracts’
Bounty hunters combing the BSC protocol for vectors and safety flaws shall be rewarded for his or her disclosures. Candidates can apply right here and the forms of vulnerabilities embrace however usually are not restricted to:
- Good contracts/Blockchain/Cryptographic flaws
- Logic errors
- Monetary/Financial assaults
- Susceptibility to dam timestamp manipulation
- Novel governance assaults
- Congestion and scalability
- Oracle failure/manipulation
Submissions have to finish a proof-of-concept and describe the vulnerability in a step-by-step information. Rewards shall be based mostly on the severity evaluation of the exploitation discovered by the moral hacker. BSC additionally has assist from the Binance Safety crew, Peckshield, Certik, and Immunefi.
“Bug bounties are a core pillar of the [decentralized finance] safety stack, offering each a compelling disclosure incentive for mainnet contracts and attracting new safety researchers,” the CEO and founding father of Immunefi, Mitchell Amador, mentioned within the announcement. “This fund supercharges bug bounties on BSC, by driving the neighborhood to undertake finest practices whereas offering compelling incentives for extra safety researchers to take part within the BSC ecosystem at giant,” Amador added.
What do you consider BSC making a $10 million bug bounty program for the BSC protocol? Tell us what you consider this topic within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss brought on or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.