Bug bounty

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A bug bounty is a program where organizations offer rewards to security researchers and ethical hackers for finding and reporting vulnerabilities in their systems. What is bug bounty in simple terms? It is an incentive-driven approach to cybersecurity that leverages the skills of independent researchers to improve system security. These programs help identify and fix security flaws before malicious actors can exploit them. Many blockchain projects, exchanges, and decentralized applications (dApps) use bug bounty programs to strengthen their security by encouraging experts to test their code. Rewards vary based on the severity of the discovered issue, with critical vulnerabilities often receiving substantial payouts.

Unlike traditional security audits, bug bounty programs provide continuous testing from a global pool of experts, making them an effective method for detecting flaws in blockchain protocols and smart contracts. By encouraging responsible disclosure, bug bounty programs help enhance trust and security in decentralized ecosystems.

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