The transition of the Ethereum (ETH) blockchain from Proof-of-Work to Proof-of-Stake will soon be effective. Indeed, according to the latest news, The Merge could take place between September 10 and 20. And to reduce the risk of network hacking during the meltdown, the Ethereum Foundation took action.
The bounty of $250,000 increases to $1 million!
According a tweet from Bloomberg Crypto on August 24, “the nonprofit foundation behind the Ethereum blockchain is quadrupling the rewards it will pay out to sympathetic hackers who find bugs in the code of its software upgrade“. The foundation effectively increased bug bounties to $1 million from $250,000.
From August 24 to September 8, all “bounties for merger-related vulnerabilitieswill be quadrupled for those testing the network. The Ethereum Foundation made this decision to ensure that the number of issues during the Merge remains low. She explained that identifying “critical bugs” will be worth up to $1 million. It should be noted that this type of bug has a high probability of impact on the blockchain.
Note that the bounty program also takes into account low, medium and high risk bugs. In addition, the foundation urges holders and users of ether (ETH) to be more vigilant before the Merger. Indeed, these shouldstay on the lookout for scams” during this period.
As the date of the Merger gets closer and closer, the Ethereum Foundation increase vigilance. She takes steps to make sure everything will go well. She notably decided to increase bug bounties to $1 million. At the same time, it invites ether (ETH) users to be more careful to avoid scams.
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