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Cardano Increases Incentives for White Hat Hackers, Here's Why

Tue, 02/15/2022 - 12:48
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Tomiwabold Olajide
Cardano to double bounty amounts starting today through March 25
Cardano Increases Incentives for White Hat Hackers, Here's Why
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As announced by the Cardano Foundation, incentives for white hat hackers will be doubled until March 25, as Cardano remains committed to building a secure, resilient and highly decentralized network that can handle the demands of the next decade and beyond.

Hackers can receive up to $20,000 for discovering critical Cardano node security flaws, while the safety group can earn up to $15,000 for discovering critical Cardano-Pockets security flaws.

The Cardano Foundation launched its bug bounty program in August 2021 in collaboration with HackerOne, a bug bounty platform that connects businesses with one of the world's largest communities of hackers. Human "ethical hackers," according to the Cardano Foundation, are better at detecting holes in blockchains than automatic vulnerability scanners.

Cardano looks ahead

The stress testing of its network comes as Cardano is taking continuous steps to improve its smart contracts and transaction throughput. Cardano's Alonzo hard fork ushered in the Plutus smart contract platform, paving the path for NFTs, dApps and DeFi on the network.

With the imminent launch of numerous new Cardano projects, the ecosystem will see tremendous expansion, necessitating increased security.

Wormhole, a token bridge between Solana and other DeFi networks, suffered a security breach in February, resulting in the loss of 120,000 wrapped Ether (wETH) tokens valued at $322 million. The Wormhole team tried to bargain with the hacker by promising a $10 million bug reward in exchange for the return of the funds. As a result, Cardano's efforts to strengthen its network security may be a step in the right direction.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.