Cardano is getting ready for the release of smart contracts capability on September 12th. To this end, the Cardano Foundation is taking steps to make sure that there are no vulnerabilities in the network ahead of launch. A new partnership will help to facilitate this, while also engaging the broader community to take part in making sure that the beloved ecosystem is as safe as possible.
Cardano Foundation, in conjunction with HackerOne, recently released a bug bounty program. This program aims to reward hackers for any vulnerabilities that they may find in the network. Bug bounty programs incentivize hackers to find and report vulnerabilities in a network instead of exploiting them for personal gain.
Related Reading | Cardano (ADA) Getting Ready For A $3 Retest?
Why A Bug Bounty Program Is Important
There is no doubt that for an ecosystem as vast as Cardano, its team alone cannot find out all of the vulnerabilities in the network. This is where bug bounty programs come in. It draws in the wider hacker community to help find as many vulnerabilities as possible. The partnership with HackerOne will draw in its large base of hackers, with over 250,000 vulnerabilities already found and reported by its hackers.
Related Reading | Cardano (ADA) Founder Responds To Criticism Over New Crypto Partnership
Ahead of its biggest project launch yet, the foundation is committed to making sure that the entire network is secure for use once it starts onboarding the general public to the mainnet with smart contracts capability.
“Cardano is a leading blockchain ecosystem that aims to enable integrated blockchain solutions globally. It is our duty to maintain the highest standards and commitment to code transparency and reliability to ensure that the protocol remains viable for mission-critical applications delivered around the world from individuals, start-ups, enterprises, financial institutions, and governments alike.” – Jeremy First, Project Manager, Cardano Foundation.
Keeping Cardano Blockchain Safe
Finding bugs through ethical hackers is one of the most efficient ways for any organization to fish out vulnerabilities in its network. Projects like Cardano will usually use automated scanners to check for vulnerabilities in the networks. But bugs that are ‘chained’ together cannot be detected by these automated scanners. This is where human hackers come in.
Related Reading | Crypto Analyst Lays Out ADA Pathway To $4
Ethical hackers use creative thinking to identify places where these ‘chained’ bugs may reside and then report them to be fixed. So something an automated scanner would not catch, an ethical hacker, through the HackerOne bug bounty program, would find and then report. Increasing the safety of the network.
Rewards for the bug bounty are separated into four different levels; low, medium, high, and critical. The bug bounty is also separated into two groups. Bugs can either be reported in the Cardano Wallet or the Cardano Node. The rewards range from $300 for low priority bugs in the Wallet to as high as $10,000 for the critical level bugs in the Node, which will be paid in its native token ADA.
ADA price continues to trail $2.8 | Source: ADAUSD on TradingView.com
Featured image from The Cryptonomist, chart from TradingView.com
