What Is a ‘Bug Bounty’ Program?
A bug bounty program is an incentive scheme where a project offers monetary rewards to ethical hackers and security researchers who discover and responsibly disclose vulnerabilities in their smart contract code. It leverages the global security community to find flaws before malicious actors can exploit them.
Glossar
Security Researchers
Vigilance ⎊ Security Researchers within cryptocurrency, options trading, and financial derivatives operate as specialized analysts focused on identifying and mitigating systemic risks stemming from protocol vulnerabilities, market manipulation, and flawed algorithmic implementations.
Incentive Scheme
Design ⎊ An incentive scheme is a structured system of rewards and penalties designed to motivate specific behaviors among participants within a financial or decentralized ecosystem.
Ethical Hackers
Role ⎊ Ethical hackers, often referred to as white-hat hackers, play a critical role in enhancing the security posture of cryptocurrency exchanges and decentralized finance protocols.
Monetary Rewards
Incentive ⎊ Within cryptocurrency derivatives, options trading, and financial derivatives, incentive structures are designed to align participant behavior with market efficiency and platform objectives.
Bug Bounty Program
Initiative ⎊ A bug bounty program is a structured initiative where organizations invite ethical hackers to discover and report software vulnerabilities in exchange for monetary rewards or recognition.