Bug Bounty
Also known as: Security Reward Program, Vulnerability Bounty, Crypto Bug Bounty
A program that rewards individuals for identifying and responsibly disclosing security vulnerabilities in blockchain systems.
A bug bounty is an incentive-based program where developers or organizations offer financial rewards to ethical hackers for discovering and reporting software vulnerabilities. In the blockchain space, bug bounties play a crucial role in preemptively identifying security flaws in smart contracts, DeFi protocols, dApps, and blockchain clients. Platforms like Immunefi and HackerOne host bug bounty programs for major crypto projects. These programs enhance trust, reduce exploit risk, and complement audits by crowdsourcing security testing. Rewards are typically based on bug severity and potential impact on user funds or network stability.