• The Ethereum Foundation has announced that the bug bounty for its upcoming Shapella upgrade has been doubled to $500,000.
• The bug bounty program offers financial compensation to individuals or groups who can find security flaws in the network.
• The rewards depend on severity which is calculated according to the OWASP risk rating model based on impact and likelihood.
Ethereum Shapella Upgrade Bug Bounty Doubled
The Ethereum Foundation has announced an increase in the bug bounty for its much-anticipated Shapella upgrade, doubling it from $250,000 to $500,000. This is part of the last-minute testing efforts ahead of deployment on Ethereum’s mainnet for staked ETH withdrawals for the first time.
Bug Bounty Program
The bug bounty program offers financial compensation to individuals or groups who find security flaws or vulnerabilities in an organization’s systems. In the case of Ethereum, this reward depends on severity which is calculated according to the OWASP risk rating model based on impact and likelihood. The bounty covers soundness of protocols including blockchain consensus models, wire and peer-to-peer protocols, proof of stake, etc., as well as protocol/implementation bugs found in client implementations like Geth and Parity clients.
This isn’t the first time that the organization has ramped up its bug bounty program; they previously increased payouts fourfold ahead of transitioning to a proof-of-stake system for all Merge related bounties associated with vulnerabilities during white hat testing of their network.
As part of ongoing testing efforts before Shapella goes live on Ethereum’s mainnet, Security Researcher at the Ethereum Foundation – Fredrik Svantes – revealed during a recent All Core Developers Consensus (ACDC) call that maximum bug bounty had been raised from $250K to $500K.
Given how critical it is that networks like these are secure and reliable when transferring value between users, such proactive measures taken by developers in ensuring integrity are invaluable not only financially but also towards creating a better ecosystem overall!