Ethereum Foundation Releases a Bug Bounty Program For Eth2
Rewards in the Eth2 Bug Bounty Program announced by the Ethereum Foundation can be up to $50k. Skilled hackers and developers who pick out critical vulnerabilities affecting Eth2 clients--Teku, Prysm, and Lighthouse, or the protocol will not only be rewarded but will get a place at the foundation’s leaderboard.
Phase 0 of Serenity is the foundation for Ethereum’s new consensus algorithm, and the launch must be bug-free. Two of the last three test networks were slowed down by client-related bugs. Even though they were official edits of the private key generating library and issues in Medalla and Spadina ironed out as the foundation announced the deposit contract date and planned launch date, developers are not anything to chance considering the billions of dollars and reputation at stake. The huge bounty reward is enough incentive for hackers to explore and pick out any flaw that might have passed through unnoticed.
Impact on the ETH Price:
Neutral. A bug bounty is a great incentive to thoroughly check code for any flaws. However, it becomes a problem if a consequential bug is picked out and the hacker goes public about the flaw. If serious, ETH prices may contract as fear grips investors.
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