Cypher
News

Bug Bounty Rewards Doubled by Cosmos

A bug bounty campaign was announced by Cosmos (ATOM) and it is slowly getting closer to its major network upgrade known as Stargate. The company has doubled the rewards being offered in the new campaign, which will last a total of three months and its purpose is to improve the software’s robustness before it is eventually released to the public. With the Stargate upgrade, Cosmos will finally be able to finish the original roadmap that had been outlined in its whitepaper. Moreover, it will also comprise of the first implementation of the IBC protocol. Cosmos will be able to use IBC for connecting to numerous other blockchain networks, which will increase its applications.

One of the early contributors, Zaki Manian explained that the newest updated Stargate was fully ready to be launched. Despite this fact, a number of teams at Cosmos want to see the upgrade tested further in order to identify any critical bugs or loopholes that may have managed to slip past the engineering and integration process. By doing so, the team is simply dedicated to avoiding a repeat of the two incidents that had occurred in the past year. This was when some critical components were discovered to have a formidable bug. 

Back in July 2020, it was discovered that there was a critical vulnerability in the consensus algorithm by Tendermint, which had been promptly identified by the blockchain firm known as Bluzelle. Likewise, the Cosmos team itself had identified a security vulnerability that was very severe back in October of last year. Hence, to avoid such similar incidents, the new bug bounty campaign has been introduced, which starts from the 10th of October and will end on December 31st, 2020. There is no maximum reward outlined for the program. This means that no cap has been set on the amount of money that will be paid for one bug and no limit has been imposed on the number of bugs that can be identified.

📰 Also read:  Bitcoin ETFs: Blackrock Submits Application For Its Global Allocation Fund

It was stipulated that identifying any critical bugs would earn people a minimum of $5,000, which is twice as much as what was offered in the previous bug bounty programs. Similarly, there would also be an increase in the reward for low, medium, and high-risk bugs. Originally, these had been valued at $100, $500, and $1,000, but they have now been increased to $200, $1,000, and $3,000, respectively. Interchange GmbH is a development firm for Cosmos and its Vice President of Engineering is Tess Rinearson. 

Cypher

She commented about this bug bounty matter and explained that the procedure to identify and patch up any bugs proactively is a vital part of any blockchain protocol, especially when it comes to making it resilient and strong. Along with this, she also talked about the release of Stargate codebase and said that it has just renewed the company’s commitment to maintaining an open-source community. She also reaffirmed that it was their purpose to bring Cosmos into a new era and launching Stargate was simply part of the process, hence their desire to ensure it is done right. 

📰 Also read:  IcomTech Former Promoters Convicted for Wire Fraud

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  BlackRock Now Holds More Bitcoin Than MicroStrategy

Cypher

Bentley Kapoor (India)

Bentley is a cryptocurrency enthusiast and trader, his articles are news and platform review based. His writings are brought to you through his 10 years of experience in the cryptocurrency markets.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content