• Cardano Foundation Increases Bug Bounty Reward Payouts by a Factor of Two

  • The Cardano Foundation is expanding its bug bounty program in tandem with the implementation of the Basho phase, which improves scalability and transaction speed.

    The Cardano Foundation is rewarding hackers and bounty hunters who find flaws in the Cardano blockchain with a payout that has more than doubled since it was first disclosed.

    Beginning on February 14, 2022, ethical hackers and bounty hunters who discover critical holes in the Cardano Node will receive up to $20,000 in rewards. The prizes are distributed based on the severity of the discovered bug. Hackers who discover a flaw that poses a minor threat to a node will receive $800. Bounty hunters who discover a serious bug in the Cardano wallet will receive a $15,000 compensation, while hackers who discover less critical weaknesses will receive $600.

    The Cardano Foundation thinks that tracing vulnerabilities is essential for keeping businesses and customers safe. The goal of the bug bounty program is to strengthen the Cardano brand by running a public bug bounty program that covers critical issues for accessing and managing crypto assets issued on the Cardano network.

    Cardano is going on the offensive against potential infrastructure flaws. This occurs during the Basho phase of the upgrade plan, which focuses on the blockchain’s scalability and stability under heavy stress. One of the on-chain enhancements is a block size increase from 8 KB to 72 KB. Input-endorsers will also enhance block propagation times and throughput, increasing the number of transactions per second. This bug bounty program might see the Cardano foundation deliver out updates while also consolidating network security.

    Why is there a bug-bounty program?

    Bug bounties are a method of crowdsourcing bug detection. These programs have been given by institutions such as Binance, Poly Network, and Japanese Liquid Crypto. What distinguishes the Cardano foundation’s initiative is that issues on a blockchain and wallet are being investigated, rather than merely a company’s smart contract architecture.

    How Cardano transactions will be handled

    The Cardano bug bounty will not be granted for faults with the user interface or general operation. The bounty will cover any bugs or vulnerabilities that could compromise sensitive information. In addition, the discovery of faults that cause the service to fail, as well as attacks that jeopardize the quality of the blockchain, will be rewarded.

    The Cardano foundation has asked hackers who find places that could be considered “an exploitable vulnerability” to contact the organization. It is possible to make arrangements to discuss these vulnerabilities “on a case-by-case basis.” In two days, the foundation will respond to hackers. It will take two days to determine where the bug falls in the severity scale. The bounty will be paid out 14 days after notice. The time required to remedy the issue will be determined by the severity and complexity of the problem.

    The campaign will last six weeks, beginning on Monday, February 14, 2022, and ending on Friday, March 25, 2022.

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