- Ethereum Foundation Doubles Bug Bounty Reward for ETH2.0
- The Reward for Critical Bugs was Increased to $20,000
- The Update is Set For Release in July
Ethereum News Today – all cryptocurrency projects use bug bounties to ensure that their inhouse developers didn’t miss any instrumental code before the launch of the product. It is a pivotal method in the tech world generally and not just cryptocurrencies. The bounties reward people that identify bugs in the code and report then quickly enough.
The Ethereum Foundation recently announced its bug bounty which rewards teams or freelance developers that identify weaknesses in the clients and protocols.
Ethereum (ETH) Price Today – ETH / USD
ETH 2.0 is Scheduled for Launch in July
The Ethereum Foundation announced its decision to double the rewards for critical bugs. This comes as the launch of ETH2.0 is set for July this year. The rewards were increased from $10,000 to $20,000.
The team explained that this increase in bounty will encourage developers to work harder and find bugs to report. All bugs in the core ETH 2Phase 0 specs are to be reported before the mainnet launch. The press release reads:
“Starting today all rewards in the Phase 0 Pre-Launch Bounty Program are being doubled for a maximum of $20k for critical bugs!
This program is designed to incentivize you to find and report bugs in the core Eth2 Phase 0 specs prior to mainnet launch”.
Terms of the Bug Bounty
The Ethereum Foundation plans to run the program from now until the Phase 0 mainnet launch which is before July. When Phase 0 production kicks off, it will be transitioned from Phase 0 bounties to the Ethereum Bounty Program.
Also, the foundation provided the rules to govern the reporting of bugs before the ETH2.0 launch. They include:
- Only core ETH2 specs will be covered
- Only critical bugs qualify for the increased amount
- Issues that have been discovered previously are not eligible
- All submissions must be made public and not anonymously. Anonymous submissions are not eligible for bounty reward
- The scope of the reward covers Phase 0 Fork Choice and Phase 0 Beacon Chain specs.
- The Ethereum Foundation decides on the validity as well as the severity of the reported bug.
- Awards are available in DAI or ETH. The developer can choose a more suitable option from any of the two.
- ETH2 clients can take part but higher scrutiny is implemented in such cases. This is done in a bid to prevent manipulation by bugs done with the sole aim of gaining a reward.