Shardeum and Immunefi launch bug bounty programme

Tuesday 9 July 2024 13:47 CET | News

Switzerland-based layer-1 blockchain Shardeum has partnered with security services platform for Web3 Immunefi to launch a USD 700,000 bug bounty ahead of their mainnet debut.


Shardeum has partnered with Immunefi to launch a USD 700,000 bug bounty ahead of their mainnet debut.

While Shardeum has conducted several internal security audits with third-party vendors, this is their first bug bounty where individuals can essentially try to ‘break the system’ through ethical hacking to detect bugs and vulnerabilities. If participants can provide proper proof of concept and show replicability, they are provided bounties for their participation in the programme. Shardeum has collaborated with Immunefi to facilitate this programme and allow for seamless recruitment and participation from developers across the globe.

Officials from Shardeum said they are happy to be executing this step with Immunefi as their trusted partner. Shardeum has been making massive strides in 2024 and mainnet is on the horizon. They value community engagement above all else, and the bug bounty is yet another way to get the community involved in one of the most important steps in securing the network.

For this specific bug bounty programme, Shardeum will run 2 ‘boosts’, or increased bounties for participants’ efforts. The boosts will run from 5 July – 16 August 2024, and are broken down into two categories:

  • The ‘Core’ boost will provide a total bounty of USD 500,000;

  • The ‘Ancillary’ boost will provide a total bounty of USD 200,000.

Commenting on the partnership, executives from Immunefi said their main mission is to ensure that every blockchain has the opportunity to bolster its security to the highest level, protecting their community from any potential threats. They were happy to collaborate with Shardeum, allowing them to take the proper security steps ahead of their mainnet launch all while encouraging their community members to participate in one of the most pivotal steps in the lifespan of a blockchain ecosystem.

What does Shardeum do?

Shardeum is an autoscaling EVM-based layer-1 blockchain. Dynamic state sharding helps keep gas fees low and TPS high as participation grows. Shardeum performs consensus at the transaction level and lowers the computational power needed for validator nodes. This consensus mechanism makes it possible for anyone to run a node while increasing decentralisation.

More information about Immunefi

Immunefi is one of the largest crowdsourced security platforms for web3. Immunefi guards over USD 190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out one of the most significant bug bounties in the software industry, amounting to over USD 100 million, and has pioneered the scaling web3 bug bounties standard.

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Keywords: web3, blockchain, cybersecurity, digitalisation
Categories: DeFi & Crypto & Web3
Companies: Immunefi, Shardeum
Countries: World
This article is part of category

DeFi & Crypto & Web3




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