Ontology (ONT) Announces A New Bug Bounty Program With 6,400 ONT As Reward

Several Exchanges temporarily block ERC 20 tokens due to potential bug

Ontology (ONT) recently announced via a Medium post that it would be partnering with SlowMist Zone – a security audit firm – to create a new bounty program tagged “Security Susceptibility and Threat Intelligence Program.” The digital currency project will be offering hackers a reward of 6,400 ONT for discovering important bugs and loopholes on the platform.

Tiered Rewards for Hackers

Hackers will be awarded with both SlowMist tokens and Ontology (ONT) tokens for detecting bugs and security issues on the network of Ontology. The structure of the reward works as a tiered system. Critical error detection rewards begin at 6,400 ONT and go down to low-level detection at 320 ONT.

Ontology (ONT) Price Today – ONT / USD

NamePrice
bitcoin
Bitcoin
$7,475.23-7.91%
ontology
Ontology
$0.543-7.88%

SlowMist Zone is presently partnered in bug bounty programs with 7 other digital currency firms, including Chiance, ImToken, OTCBTC, and VeChain.

The Increasing Popularity Bug Bounty Programs

Susceptibility-discovery programs together with bug bounty programs are becoming increasingly popular among digital currency projects, and they are also proving to play a vital role in the development of digital currency security.

Ontology (ONT) is now among the group of blockchain projects that believe in the significance of such kinds of programs. The blockchain project said that its new bug bounty program is aimed at providing “better connection between blockchain and white hat enterprises and maintaining the blockchain security of the ecosystem.”

Recently, a report by HackerOne estimates that the number of bug bounties are likely to increase by 100 percent in 2018 from last year, and the reward of the programs are said to have already increased by 500% as of August this year.

Ontology (ONT) Price Today – ONT / USD

NamePrice
bitcoin
Bitcoin
$7,475.23-7.91%
ontology
Ontology
$0.543-7.88%

At the time of writing, Ontology (ONT) is trading at $1.27 after an increase of more than 8 percent over the past twenty-four hours. Ontology (ONT) is currently ranked 38th and it boasts of a market cap of $192.52 million with a trading volume of $20.44 million over the past twenty-four hours.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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