Cardano is Doubling the Rewards for Hackers who Identify Flaws in its Blockchain

Cardano claims to have quadrupled compensation to bounty hunters and hackers who can find faults or vulnerabilities in its smart contract blockchain.

Overview of Cardano

Cardano is a proof-of-stake blockchain platform that is the first to be designed using evidence-based methodologies and based on peer-reviewed research. It integrates cutting-edge technologies to create decentralized applications, systems, and societies with unprecedented security and long-term viability.

ADA is defining a new future with a team of outstanding engineers: a decentralized future without intermediaries, where power is returned to the person.

ADA is restoring trust in global systems by using science to provide a more secure, transparent, and long-term platform for individuals to trade and exchange, as well as regulatory systems and businesses.

“It introduces a new open and inclusive technology standard to challenge the status quo and usher in a new era of globally delivered sustainability.”

Cardano has Increased the Rewards for Hackers who Find Flaws in its Blockchain by Double

This six-week deal, which ends March 25, is intended to “defend the company and its clients,” according to the corporation.

Bounty hunters and hackers who discover weaknesses in the ADA ecosystem will see their payouts doubled under the new initiative. As of February 14, the site had awarded hackers the highest reward of $20,000 for discovering serious holes in the network.

Bounty hunters who find important flaws in the ADA wallet will be paid $15,000, while bounty hunters who find less serious vulnerabilities in the Cardano wallet will be paid $600.

This isn’t the fund’s first collaboration with the hacking platform. The fund joined with HackerOne, a vulnerability management company that uses hackers to uncover vulnerabilities and weaknesses to defend the financial sector from hacker attacks, in August 2021.

The business previously offered $10,000 for discovering severe vulnerabilities in its network and $7,500 for discovering critical vulnerabilities in the Cardano wallet.

The Cardano Foundation has now quadrupled the rewards for hackers who uncover vulnerabilities in their blockchain in order to improve the security testing of their network.

Cardano’s rewards plan’s scope

“The scope of the bug bounty program will not include any user interface or general functionality problems,” the announcement states. It will, however, have faults or vulnerabilities that could lead to the loss of sensitive data, according to the foundation. The rewards program also includes bugs that cause the service to fail, as well as assaults that compromise or degrade the quality of the blockchain.

Identifying bugs that can cause problems and attacks that can degrade blockchain quality are examples of this.

Furthermore, the group invited hackers to find areas that could be considered “exploitable vulnerabilities” so that they can be reviewed “case-by-case.”

In addition, the group stated:

“Through this public bug bounty program, we hope to strengthen the brand by providing fundamental aspects for accessing and controlling crypto assets issued on-chain, Cardano blocks.“

To clarify why the initiative exists, the platform stated that it needs to collaborate with the security community to identify vulnerabilities in order to “defend our business and our customers.”