After Tron [TRX] Whopping $10M Reward, Another Top Crypto Launches a Bug Bounty Program

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After Tron [TRX] Whopping $10M Reward, Another Top Crypto Launches a Bug Bounty Program

Recently, Tron coin raised the bar by increasing the bug bounty program reward from $100k to $10 million. Bug bounty programs are being introduced increasingly in order to ensure the security of a network. The latest addition to this is another of the top cryptocurrencies, VeChain whose mainnet is up for launch at the end of this month.

Tron coin [TRX] raises the bug bounty program reward to $10 mln

The mainnet launch of Tron coin was followed by the announcement of a bug bounty program by its CEO and founder Justin Sun. Initially, the reward for identifying the critical issues in the network was $100,000.

However, then Justin raised the reward to a whopping $10 million. Apparently, he doesn’t want to take any risks with the security of the Tron network. As per the official document, this campaign will be taking place from May 31 to June 24.

Tron already had an impressive reward assigned but now with $10 million, it has stood itself apart from even the mainstream companies and not just crypto industry.

As posted on the GitHub, the program is

“aimed at discovering potential technical vulnerabilities in the mainnet with the help of TRON’s community members, especially those who specialize in global network security, to sustain TRON mainnet as the most secure public blockchain in the industry and to provide secure and stable infrastructure and services to DApps deployed on the mainnet.”

Differentiated into the fatal, advanced, and intermediate level, the reward payout will be allotted in different amounts.

Recently, a hacker named Vranken reportedly made $120k by finding bugs in the EOS software. He discovered 11 confirmed bugs and had previously reported bugs to Ethereum, Stellar and Ripple as well.

Also, read: Ripple (XRP) Up for Big Things After a Stellar Week

VeChain [VEN] jumps on the bug bounty program bandwagon

Bug Bounty Programs are surely becoming the talk of the town as after Tron, now VeChain has introduced the program. With the mainnet launch of VeChainThor coming up, the team doesn’t want to take any risks.

According to its post on the Hackenproof, VeChain, “launched a bug bounty program to find vulnerabilities and pay rewards.” They further talk about the things to look for such as attacks (Scenarios for DoS attacks, 51% and other X% attacks, Finney attacks, Sybil attacks, Replay attacks), data type overflow, hash algorithms, incorrect implementations and much more.

As for the rewards, it will be given in VET tokens based on the current price. On the basis of the severity of the bugs, i.e. critical, medium, high and low, the reward will be given. 10,000 USD is the highest limit while 500 USD is the lowest.

It has been further cautioned by the team that privacy is maintained as it strongly states, one “cannot tell anyone or anywhere”. Furthermore,

Public disclosure of a vulnerability makes it ineligible for a bounty. Also, please do not store screenshots and / or executable codes and scripts related to the vulnerability discovered on publicly available services and resources so that the information is not available to third parties.”

According to Coinmarketcap, while sitting at 16th position, VeChain (VEN) is currently up by 3.88 percent at $3.98.

What do you think of the rising bug bounty programs? Share your thoughts with us!

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After Tron [TRX] Whopping $10M Reward, Another Top Crypto Launches a Bug Bounty Program
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After Tron [TRX] Whopping $10M Reward, Another Top Crypto Launches a Bug Bounty Program
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Recently, Tron coin raised the bar by increasing the bug bounty program reward from $100k to $10 million. Bug bounty programs are being introduced increasingly in order to ensure the security of a network. The latest addition to this is another of the top cryptocurrencies, VeChain whose mainnet is up for launch at the end of this month.
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Author: Sahitya Kumar

Sahitya is a crypto enthusiast. He is a specialist on management and strategic planning for over 5 years.

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Sahitya Kumar 10 Articles

Sahitya is a crypto enthusiast. He is a specialist on management and strategic planning for over 5 years.

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