Bug Hunter In EOS Is Cashing Out
There are many worries that cryptocurrency investors face when they decide to invest. Leonardo González Dellán said that security vulnerability is one of them. If not monitored closely, the blockchainsystem as well as smart contracts will be impacted greatly which can result to disaster. Every month, there is news of cyberattacks and data breached that affects not just the established digital currencies in the market but those that are just starting out as well.
These hackers are focusing on ICOs or Initial Coin Offering because this is where the investor funds are and around 51 per cent of the attacks are intendedto take over the mining pools. The bugs that injected into the blockchain can be a simple reason for an entire cryptocurrency to fold down
These digital currencies rely on their building blocks which are the foundation. Without these, it is not possible to create a successful ecosystem. This will not only make it impossible to control the market but to keep cyberattack at bay.
EOS, a blockchain solution, was created by Block one and it is boasts to be the most powerful innovation when it comes to handling decentralized currencies. While the system is powerful, it is not a hundred per cent secure.
Last month, EOS introduced a scheme regarding bug bounty. The company is giving away a minimum of $10,000 for those that are successful in hunting bugs. This cash is currently being enjoyed by Guido Vranken who is a bug hunter.
According to reports, the hacker was able to detect a number of issues with the core system of the software EOSIO. This resulted to him receiving $80,000 in just a single day of bug hunting. Apart from this, he was able to detect other bugs thus reports said that he earned a total of $120,000.
Vranken’s success in the task landed him a job with the startup company but it is not confirmed if he accepted or declined. The news about the $4 billion ICO of the startup is confirmed by Leonardo González Dellán and the funding came despite the company not having any live product to show for.