Blockchain News

Zilliqa Teams Up With Bugcrowd to Initiate Bug Bounty Program

Zilliqa, which serves as a global leading enterprise-grade blockchain platform, has announced its strategic collaboration with leading crowdsourcing security firm, Bugcrowd, to lay the foundation of its highly anticipated Bug Bounty program for its global customer base. The crucial news was broadcasted through a social media post by the Zilliqa team on their official Twitter page. The post highlighted the chief objectives of the newly launched bounty program.

According to the announcement, the Bug Bounty program of Bugcrowd enriched the Zilliqa team with a golden opportunity to infuse an enhanced level of security to its highly efficient security ecosystem. The program has an array of lucrative outcomes for Zilliqa, including:

  • Layered approach to security without incurring the cost of full-time resource modules
  • Achievement of the first P1 (highest priority vulnerability) within a year
  • Submissions from the Crowd at an early stage unveiled significant edge-cases that were not reflected in regular code reviews and security audits.
  • Bugcrowd allows Zilliqa to convey to researchers that they offer safe services to customers.
  • Bugcrowd manages payment distribution and allocation for Zilliqa-validated vulnerabilities as per the Vulnerability Rating Taxonomy.
  • It offers quick and trusted validation and prioritization for all incoming vulnerabilities.

“Bugcrowd has added an additional layer to our security testing. It has helped to complement our existing security efforts and has helped us uncover new bugs that we weren’t aware of before. We’ve found that due to the nature of the bugs reported on Bugcrowd, our dev team has gained valuable insights in order to orient them towards more defensive coding,” stated Jun Hao Tan, SVP Security, and Platform Engineering, Zilliqa.

Zilliqa organized its first Bug Bounty program with Bugcrowd in November 2018. The program was conducted under the guidance of Jun Hao Tan. Jun Hao Tan had previously been part of ‘capture the flag’ competitions; he reported numerous security vulnerabilities to participants from the tech world. Bugcrowd played a significant role in strengthening Zilliqa’s program purpose and core testing requirements. Their efforts were focused on leveraging aid to a cryptocurrency platform and smart contract language implementation. The Bounty program aims to build trust for blockchain solutions amongst the investors at large. The program helps to eliminate the risks and threats that are quite prevalent in the blockchain ecosystem at present.

Zilliqa strives to deliver an efficient fault-tolerant and secure networking experience for its global customer community. The Zilliqa platform is studded with a wide range of amazing features, including:

  • Sybil resistance- The new nodes planning to join the Zilliqa network need to satisfy the authentication requirements through computational expression.
  • Node-sharing- The network divides the nodes into several small ‘shards’ which cancels the risk of single-point failure, requiring attackers to attain network majority to advance.
  • Safe-by-design smart contract language- A robust verification system to aid developers in recognizing gaps, implementing fixes, and ensuring security when writing smart contracts.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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