New York, United States, July 8th, 2024, Chainwire
Shardeum collaborates with leading web3 bug bounty platform to test the network head of mainnet launch, offering a total of $700,000 USD in bounties
Shardeum, the autoscaling layer-1 blockchain, announces a partnership with Immunefi, the leading bug bounty and security services platform for Web3, to facilitate Shardeum’s first bug bounty ahead of their mainnet launch. The bug bounty will be used to further detect any critical issues and bugs within the network and act as a major step in ensuring steadfast security before Shardeum’s mainnet goes live.
While Shardeum has conducted several internal security audits with third-party vendors, this is Shardeum’s first bug bounty where individuals can essentially try to “break the system” through ethical hacking to detect bugs and vulnerabilities. If participants can provide proper proof of concept and show replicability, they are provided bounties for their participation in the program. Shardeum is partnering with Immunefi to facilitate this program and allow for seamless recruitment and participation from developers across the globe.
“We are excited to be executing this step with Immunefi as our trusted partner. Shardeum has been making massive strides in 2024 and mainnet is on the horizon. As always, we value community engagement above all else, and the bug bounty is yet another way to get the community involved in one of the most important steps in securing the network” says Chris Chabot, VP, of Developer Relations at Shardeum.
For this specific bug bounty program, Shardeum will run 2 “boosts”, or increased bounties for participants’ efforts. The boosts will run from July 5th - August 16th, 2024, and are broken down into two categories:
- The “Core” boost will provide a total bounty of $500,000 USD - the breakdown can be seen here.
- The “Ancillary” boost will provide a total bounty of $200,000 USD - the breakdown can be seen here.
“Immunefi’s main mission is to ensure that every blockchain has the opportunity to bolster its security to the highest level, protecting their community from any potential threats. We were thrilled to partner with Shardeum, allowing them to take the proper security steps ahead of their mainnet launch all while encouraging their community members to participate in one of the most pivotal steps in the lifespan of a blockchain ecosystem” says Founder & CEO of Immunefi, Mitchell Amador.
Shardeum recently announced the launch of Stage 1 of their incentivized testnet, Atomium, which allows community members to participate in testing the network vulnerabilities as well. In Stage 1, Shardeum attracted over 483,000 unique participants, showcasing significant community involvement, which is only set to increase. Stage 2 is set to release very soon.
Users who want to learn more about Shardeum’s bug bounty or want to learn how to participate, can refer to the Core and Ancillary boost links provided above.
Media Enquiries:
media@shardeum.org
About Shardeum
Shardeum is an autoscaling EVM-based layer-1 blockchain. Dynamic state sharding helps keep gas fees low and TPS high as participation grows. Shardeum performs consensus at the transaction level and lowers the computational power needed for validator nodes. This consensus mechanism makes it possible for anyone to run a node while increasing decentralization.
About Immunefi
Immunefi is the largest crowdsourced security platform for web3. Immunefi guards over $190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $100 million, and has pioneered the scaling web3 bug bounties standard.
ContactsChief Growth OfficerKelsey McGuireShardeumkelsey@shardeum.orgPriyanka SharmaShardeumpriyanka@shardeum.org
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
