Cardano Foundation Announces Multiple Rewards For Hackers Finding Potential Flaw

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The Cardano Foundation is a blockchain and cryptocurrency institution based out of Switzerland. The Foundation’s primary objective is to ‘promote as a secure, transparent, and accountable solution for global change.’ Cardano’s Bug Bounty Program has been announced by Cardano Foundation in partnership with HackerOne. HackerOne is a well-known hacker-powered security partner. Ethical hackers of HackerOne with their diligent procedures, assist Cardano’s blockchain to be as stable and secure blockchain as possible. Ethical hackers are incentivized for every vulnerability they discover and report. This helps Cardano in fixing bugs before they are a victim of cyberattacks. Two-Way Street Between Cardano Foundation & Ethical Hackers The Cardano Foundation recently announced the doubling of rewards for ethical hackers who can help detect bugs on the network. According to the Foundation as stated on Hackerone.com, promotion to discover vulnerabilities will continue for 6 weeks from February 14 to March 25, 2022, to fulfill the objective to secure and safeguard the network. The bounty payment for ethical hackers has been set at $20,000 for critical bugs with high vulnerability, fetching a reward of $10,000. The reward for medium and low bugs is $4,000 and $800, respectively. For detecting major bugs in the Cardano wallet, the hacker may receive up to $15,000. While the bounty prize for high vulnerability is $6,000. In accordance with Cardano Foundation, to be eligible for a reward, a hacker must provide detailed reports with steps to improvise. In their words, Cardano Foundation is looking forward to collaborating with the security community to find security vulnerabilities to keep ‘our business and customers safe.’ Cardano continues to Climb Up the Ladder The program will help strengthen the brand by addressing fundamental aspects for accessing and managing crypto assets produced on the Cardano blockchain. Contest of vulnerability detection helps Cardano’s growing network in adding massive adoption for different cases. Developments on the network are a sign to detect the influence on the price of ADA. However, according to reports, ADA is now undervalued on the basis of Santiment’s Market Value to Realized Value (MVRV) indicator. Cardano has not been undervalued since March 2020, according to the data given. Cardano Foundation network continues expanding, like a rise in transaction volume by this year. By February 8, the total number of Cardano transactions will be at 30.4 million. Earlier this year, since January 10, the platform has added four million transactions more. The number of transactions corresponds to the number of ADA wallets. Cardano blockchain has also been garnering success through the introduction of smart contract functionality. Cardano’s smart contract functionality has been able to attract various crypto functionalities like hosting decentralized finance applications as well.

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Time Stamp: February 15, 2022