Bitcoin Association for BSV Announces the Launch of Bitcoin SV Bug Bounty Program

 

 

BSV

This program is aimed at improving the security of the Bitcoin SV (BSV) blockchain by ensuring the soundness of its underlying protocol. 

 The BSV blockchain is designed to align with the original Bitcoin protocol, offering unbounded scaling, high transaction throughput and low transaction fees thanks to its lack of an artificial block size limit. The stable and reliable protocol underlying the BSV blockchain makes it the best platform to build global applications and services upon, and it is this stability and security which the new Bitcoin SV Bug Bounty Programme aims to ensure by offering rewards of up to $100,000 for the detection of vulnerabilities, paid out in BSV. 

 The bounty programme encompasses many aspects of the Bitcoin SV codebase and spans vulnerabilities and errors across all aspects of the BSV network, including the consensus model, proof-of-work mechanism, peer-to-peer protocols and network security. 

 Rewards from the bug bounty are distributed according to the following pre-defined threat levels: 

·       Critical ($100,000) – Catastrophic impact on the network as a whole; network availability compromised; loss of funds. 

·       High($50,000) – Impacts individual nodes; individual node crashes; potential for a loss of funds. 

·       Medium ($25,000) – Not easily exploitable; medium impact; no loss of funds. 

·       Low ($10,000) – Not easily exploitable; low impact. 

 

All rewards above are denominated in US dollars but will be paid in BSV. Developers who discover vulnerabilities are encouraged to include a proof-of-concept detailing the exploit to speed up the evaluation of their submission. 

It should be noted that not all attack types and branches of the BSV code base are within the scope of this bounty programme, and certain vulnerabilities will only qualify for bug bounty rewards if they fulfil specific criteria. 

Further information on the qualifying criteria for these vulnerabilities and the scope of the programme is available on the Bitcoin SV Bug Bounty Programme website. 

Speaking on today’s announcement of the Bitcoin SV Bug Bounty Programme, Bitcoin Association Managing Director Patrick Prinz, commented:  

‘The BSV blockchain continues to grow in adoption and technical capability, allowing it to serve as the most stable and efficient blockchain platform for enterprise and government applications. As the BSV ecosystem continues to evolve, it is important to ensure the security of network protocols and monitor for any vulnerabilities. Through the launch of this Bitcoin SV Bug Bounty Programme, we are encouraging developers to maintain this security by offering substantial rewards of up to $100,000 for vulnerabilities they detect. The BSV blockchain’s scalable and powerful infrastructure will revolutionise payments and create a new Internet of value, and it is crucial that it remains transparent and secure at all times.’

About Bitcoin Association for BSV 

Bitcoin Association for BSV is a Switzerland-based global industry organisation that works to advance business on the Bitcoin SV (BSV) blockchain. It brings together essential components of the BSV ecosystem – enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others – working alongside them, as well as in a representative capacity, to drive further use of the BSV blockchain and uptake of the BSV digital currency. 

The Association works to build a regulation-friendly ecosystem that fosters lawful conduct while facilitating innovation using all aspects of Bitcoin technology. More than a digital currency and blockchain, Bitcoin is also a network protocol; just like Internet protocol, it is the foundational rule set for an entire data network. The Association supports use of the original Bitcoin protocol to operate the world’s single blockchain on BSV. 

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Cryptosoft
Cryptosoft Trading Bot Review
June 27, 2022
The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
Scammers
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Is The Crypto Market Combating A Lehman Brothers Moment?
Is The Crypto Market Combating A Lehman Brothers Moment?
June 30, 2022
Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin19,112 0.96 % 0.69 % 11.21 %
Ethereum1,066.9 0.13 % 1.79 % 14.25 %
Tether0.9981 0.24 % 0.24 % 0.25 %
USD Coin0.9993 0.22 % 0.23 % 0.40 %
BNB218.23 0.37 % 0.67 % 9.04 %
Binance USD1.000 0.12 % 0.21 % 0.24 %
Cardano0.4498 0.88 % 0.19 % 9.72 %
XRP0.3133 0.77 % 0.22 % 14.70 %
Solana33.00 0.65 % 1.39 % 22.15 %
Dogecoin0.06653 0.05 % 0.30 % 2.97 %

bitcoin
Bitcoin (BTC) $ 19,280.43
ethereum
Ethereum (ETH) $ 1,066.92
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 219.38
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.454451
xrp
XRP (XRP) $ 0.315862
solana
Solana (SOL) $ 33.29
dogecoin
Dogecoin (DOGE) $ 0.066616