You have probably long heard about those bug bounty programs awarding white-hat programmers quite big rewards and even wondered what’s all this about. Many websites and software developers use bounty hunting as one of the main methods to debug system codes and avoid security incidents.
And as you can already guess, smart contract bug bounty is one of its subdivisions mainly concentrating on smart contract vulnerabilities and security exploits.
So, let’s go on and explore more about smart contract bug bounty programs and their characteristics.
Bug Bounty Hunting: Overview
Bounty hunting refers to receiving compensation and recognition after reporting identified bugs and errors within the code of security exploits. As a result, software developers can quickly resolve all the issues and debug the smart contract code before the general public notices them.
Simply put, bounty programs allow ethical hackers to test a company’s applications and check if they contain certain …