Ethereum Incentivizes Hackers To “Bug Hunt” With $1 Million Reward

The Merge of the Century is approaching, in order to prepare for the official event to be perfect, Ethereum developers do not hesitate to give away 1 million USD in bounty for those who find protocol bugs, client applications and Solidity affecting The Merge.

The long-awaited “merge” event for Ethereum, which will eventually move the network away from its energy-intensive mining paradigm, is just around the corner. Since it has been years in the development, Ethereum’s guardians want to ensure that everything runs well, thus they are prepared to invest a significant sum of money to encourage white hat hackers to identify any problems before they happen.

The Ethereum Foundation revealed that it has tripled the bug bounties offered between now and September 8 for any merge-related network vulnerabilities found in that window along with the introduction of a revised schedule for the merging.

Specifically, the program will award for “low risk error” $2000, “medium risk error” $10,000. For “high risk bugs” the reward will be $50,000 and for “critical bugs” the reward will be up to $250,000.

Since the network’s developers figured out how to securely switch to a secure consensus technique that doesn’t require a proof-of-work mining model, the merging has been on the horizon for Ethereum users for a number of years. Users from all around the world use powerful computers to validate transactions during mining, earning ETH as a reward.

The merge was previously estimated to take place on September 15 or 16, but today the Ethereum Foundation announced a window between September 10 and 20 – which means it could happen even sooner than expected. The enhanced bug bounty will help ensure that no roadblocks further delay the long-promised transition.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ethereum Incentivizes Hackers To “Bug Hunt” With $1 Million Reward

The Merge of the Century is approaching, in order to prepare for the official event to be perfect, Ethereum developers do not hesitate to give away 1 million USD in bounty for those who find protocol bugs, client applications and Solidity affecting The Merge.

The long-awaited “merge” event for Ethereum, which will eventually move the network away from its energy-intensive mining paradigm, is just around the corner. Since it has been years in the development, Ethereum’s guardians want to ensure that everything runs well, thus they are prepared to invest a significant sum of money to encourage white hat hackers to identify any problems before they happen.

The Ethereum Foundation revealed that it has tripled the bug bounties offered between now and September 8 for any merge-related network vulnerabilities found in that window along with the introduction of a revised schedule for the merging.

Specifically, the program will award for “low risk error” $2000, “medium risk error” $10,000. For “high risk bugs” the reward will be $50,000 and for “critical bugs” the reward will be up to $250,000.

Since the network’s developers figured out how to securely switch to a secure consensus technique that doesn’t require a proof-of-work mining model, the merging has been on the horizon for Ethereum users for a number of years. Users from all around the world use powerful computers to validate transactions during mining, earning ETH as a reward.

The merge was previously estimated to take place on September 15 or 16, but today the Ethereum Foundation announced a window between September 10 and 20 – which means it could happen even sooner than expected. The enhanced bug bounty will help ensure that no roadblocks further delay the long-promised transition.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News

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