Ethereum Launches $2M Attackathon to Enhance Security
Table of contents
Event Details
The Attackathon, organized by the Ethereum Protocol Security (EPS) research team, will run for four weeks. Participants will actively search for vulnerabilities, adhering to specific competition rules. Only impactful and rule-compliant reports will be rewarded. The event kicks off with a technical walkthrough of the blockchain's code to ensure participants are well-prepared to spot and understand potential issues.
Collaboration and Sponsorship
The event is hosted by bug bounty platform Immunefi, which has contributed $500,000 to the prize pool. They are calling for sponsors to raise an additional $1.5 million by August 1, when more details about the event will be shared. The EPS team plans to host similar hackathons at every hard fork to cover changes to the codebase.
Future Hard Forks and Updates
Ethereum's upcoming "Pectra" hard fork, expected to go live late this year or early next year, combines the "Prague" and "Electra" upgrades. Major updates for users include a "social recovery" feature, potentially eliminating the need for a 24-word private wallet key and giving wallets smart contract-like features.
Significance of Hackathons
Hackathons are common in the tech world, and the crypto industry has seen numerous similar events. These events aim to incentivize hackers to share their exploits for rewards rather than using them maliciously. Immunefi’s website lists bounties ranging from tens to hundreds of thousands of dollars, with the largest reward offered by LayerZero reaching $15 million.
The Attackathon represents a significant effort by Ethereum to enhance its protocol security through community involvement and collaboration with leading security platforms.