- Immunefi, in collaboration with Jump Crypto, is putting up a US $1m reward for users who participate in a six-week bug bounty program.
- Hackers and developers can assist in the release of a new independent validator on Solana, Firedancer.
- Participants can receive a portion of the bounty by finding and sharing any potential exploits or holes that currently exist within the Firedancer client.
Bounty hunters get those fingers ready!
A US $1m (AUD $1.48m) target has been placed on the back of…a new independent validator for Solana. The program is being hosted by Immunefi, a leader in protecting the Web3 space from exploits and ensuring financial security. Interested parties can begin the “Boost” on July 10th, with the competition ending on the 21st of August.
The event will be accompanied by a leaderboard, where participants can climb the rankings based on bug reports to receive a larger cut of the prize pool.
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What is Firedancer?
Firedancer, better known by some as “Frankendancer”, is being built by Jump Crypto to facilitate certain improvements to the Solana ecosystem. The client is intended to be an independent validator that enhances Solana’s decentralisation. Additionally, Firedancer will include C/C++ compatibility, which will be a big step forward for developers and high-frequency traders on the network.
The president of Jump Crypto was excited about the project’s potential to benefit Solana in a statement to The Block.
Given Solana’s success, our participation in the ecosystem over a couple years, and the very specific technical challenges that they wanted to solve as it pertains to optimising their network and runtime…this felt like a really great opportunity for us to come in and contribute.
Kanav Kariya, President of Jump CryptoBugs and Hacks Still a Leading Issue in the Web3 Space
Bug bounties are important in creating a safe and enjoyable Web3 experience for everyone. Code-related exploits in the blockchain scene have contributed to mass-scale financial losses through varying means, such as Oracle price manipulations, backdoor entry to programs and more.
According to Immunefi, the leaders in the bug bounty space, over US $19b (AUD $28.16b) has been lost to hacks and exploits since 2011.
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By offering a reward for finding and closing these loopholes, companies like Immunefi incentivise hackers to do their work for the greater good, rather than exploiting victims on the network.
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