What is Bug Bounty Program? | CryptoWallet.com

What is Bug Bounty Program?

A bug bounty program is where crypto software undergoes a series of security tests to identify bugs in the code. Computer experts report any vulnerabilities and exploits in the system. 

Computer and programming enthusiasts penetrate a program to identify bugs. After bounty hunting, the bounty hunter gets rewards in the form of tokens. A bug bounty refers to a reward offered to ethical hackers who discover bugs in a system. 

Since bounty programs are common, hunters can make full-time incomes from bounties. In these programs, the business often sets the scope of work and the reward for each. 

How to Be a Bounty Hunter

This kind of freelance work is quite technical. Experts can use bug bounties to test their level of expertise in the subject of online security. 

Often even people with little programming skills can also identify bugs in codes. So, what can you do to be a bug bounty hunter? Here are a few things; 

Learn some basic computer networking skills. Learn some basic computer networking skills. The skills include IP addresses, OSI stack, Mac addresses, and inter-networking.

Understand programming languages like Javascript, HTML, and CSS. Also, you need to get basic knowledge of web protocols like HTTP, FTP, and TLS.

  • Understand the basic security measures in web applications and the hacking techniques. 
  • Practice on vulnerable web applications and Damn Vulnerable Web Application
  • Test your skills when bug bounty programs arise
  • Always be up to date with the trending vulnerabilities in crypto. 

Pros and Cons of Bug Bounties

Bounty programs often come with many benefits for the application and developers. These programs help detect more vulnerabilities at a reduced cost. 

Moreover, bug bounty programs have broader access to talents. People with an interest in the software space can sharpen their skills in bug bounties. 

Of course, the most exciting thing about bug bounties is realistic threat assessments. Since the organization pays hackers to be criminals on this software, it’s easier to identify the real loopholes. 

Even though bug bounties carry a world of benefits, there are also cons associated with them. Among the cons include;

  • Lots of tokens may be dumped in this event, in fact leading to problems with the coin.
  • Poor user experience.
  • Poor quality work.