On July 2nd, PIVX in conjunction with HackerOne, launched a bug bounty program aimed at securing the PIVX network against theft and attacks. The program is currently invite only, but in the coming days will be made public.
The program is intended to search for any and all security issues that could affect the integrity of the network. This could include problems with the cryptographic functions, invalid means of creating coins, denial of service attacks and many more. Companies are increasingly using these bug bounties to incentivize security researchers and hackers alike to search their code and platforms for any problems.
The rewards given out are based upon how critical they are to security. A system called the Common Vulnerability Scoring System is used to give threats a score between 1 and 10. PIVX is offering at least $5,000 for critical vulnerabilities (9.0-10.0) and $200 for low level threats (0.1-3.9). A small "bug bounty panel" exists to decide the appropriate rewards for most reports that end up in the middle.
It is encouraging to see more companies embrace these programs. With a little luck, in the coming years efforts like these will lead to blockchains that can be truly trusted by the public to be secure, anonymous and public.