The NEO Platform blockchain is based upon computer code. Lots and lots of computer code. Computer programmers (and even non-computer programmers with a little bit of imagination) understand that when a team writes millions of lines of code, there are bound to be mistakes.
Some computer code mistakes are benign. Others, not so much. Famous blockchains like EOS and Ethereum have suffered major attacks from vulnerabilities resulting from bad code. NEO is not the first blockchain to try to prevent these attacks from materializing, but it has been one of the most proactive. With the new NEO bounty program, you can use those hacking powers for the good of the blockchain (and for profit!). Buy NEO now!
The NEO Vulnerability Bounty Program
The NEO Vulnerability Bounty Program is running concurrently with China’s 5th Annual “China Cybersecurity Week”. Every year, China broadly highlights the importance of web-based security, and numerous Chinese companies introduce programs or awareness promotions to erase vulnerabilities.
NEO is stepping right in line, but it’s also committing to public scrutiny is a way that can be very healthy for blockchains. In this case, NEO users are invited to look for bugs in the NEO blockchain. Those who report undiscovered bugs will be rewarded in NEO tokens.
Low-level vulnerabilities (those not creating significant risk) will be awarded $500 worth of NEO tokens. Those who discover very significant vulnerabilities will be awarded up to $10,000 worth of NEO tokens. Bounties are set for values in between these two extremes, as well. This is an impressive reward for those who would usually buy NEO.
The Fine Print
Users are invited to study the NEO blockchain for problems related to security and stability. Problems with the NEO website are not related to this bounty program. When users report the same bug, the first user to make the report will be the one who gets the reward. If multiple bugs are found, all resulting from a single cause, then only the person who found the “parent bug” will be rewarded.
People who report bugs can do so by contacting Erik Zhang at [email protected] Reports must include detailed “reproduction procedures” so that the NEO dev team can find the problem without confusion. For more details, check out the NEO Vulnerability Bounty Program page: www.neo.org/dev/bounty.
Bounty Programs Build Better Blockchains
NEO is far from the first blockchain to offer bounties to users who discover bugs. NEO has also offered bounties in the past, for bugs, website issues, and design work. The bugs identified in this round of bounties is thought to be related to NEO 3.0. NEO wants to create the world’s most powerful smart contract platform with NEO 3.0. Your work could help.
Past bounties have identified vulnerabilities in Ethereum on multiple occasions. The industry well remembers how undiscovered bugs can result in utter disaster, as with Mt. Gox and the DAO. Furthermore, bug bounties are further proof that blockchains work as decentralized organizations. Where bugs formerly could only be discovered and remedied by a corporation’s own employees, NEO’s strength comes from participants and experts all around the world.
Many of these people are not formally associated with NEO, but all will contribute to its strength as an ecosystem. Other blockchains take note: this is how decentralization thrives!
Featured image source: Flickr