Cardano ($ADA) Temporarily Doubles Bug Bounty Rewards to Strengthen Network Security

The Cardano Foundation, an independent Swiss non-profit organization that oversees the advancement of Cardano ($ADA) and its ecosystem, has temporarily doubled the rewards offered in its bug bounty program in an effort to further strengthen the security of the network.

According to an update on HackerOne, bug bounty rewards have been doubled for a total of six weeks ending March 25, 2022, with the largest potential bounty being $20,000 for critical vulnerabilities affecting Cardano nodes.

Other node-affecting vulnerabilities can award white ackers rewards between $10,000 and $800. On the other hand, vulnerabilities affecting Cardano wallets can offer rewards ranging from $500 to $15,000 for exploits deemed critical.

The Cardano Foundation clarified that hackers must provide detailed reports with repeatable steps to be eligible for these rewards. In its update, the Foundation wrote that it “looks forward to working with the security community to find security vulnerabilities to keep our businesses and customers safe.”

The program, he added, aims to “strengthen the Cardano brand” while covering “the essentials for accessing and managing crypto assets issued on the Cardano blockchain.”

As CryptoGlobe reported, the Cardano Foundation launched its bug bounty program for ethical hackers in September last year with security firm HackerOne to search for vulnerabilities in the project’s blockchain.

Bug bounty rewards are a popular way for organizations to invite ethical hackers to work with them and be rewarded for helping to make their products and services more secure and growing in the crypto space. change. In 2018, cryptocurrency-related bug bounties earned hackers almost $900,000. This year alone, a security researcher who patched a critical vulnerability on Ethereum’s Layer 2 scaling solution received a $2 million bounty.

The stakes for Cardano have also increased with its network. As noted, the number of addresses holding ADA continued to rise in January to a new high of 4.53 million, with monthly transactions on the cryptocurrency network also continuing to grow.

These addresses have now performed more than 30 million transactions, while the number of smart contracts deployed on the network topped 1,000 for the first time this year.

Cardano developer Input Output proposed to increase network block size by 11%, from 72KB to 80KB, after network load exceeded 90% with the launch of a DeFi platform popular, SundaeSwap. Cardano’s network load peaked at over 90% after the launch of SundawSwap, while the total value locked jumped over 9,000%.

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