Recent data suggests that the EOS blockchain has led to more 'bug bounties' than any other crypto network so far. EOS has accounted for around two thirds of these rewards in 2018 - a total of $417,000.
The total amount of money given out for bug bounties in 2018 was almost $600,000, according to stats from coding platform HackerOne that were shared exclusively with TheNextWeb. In 2017, the total amount of bug bounties given out was significantly less, around $90,000.
Bug bounties were started last year when a number of crypto startups decided to directly reward hackers for identifying network weaknesses, instead of letting them exploit these vulnerabilities to defraud other users.
The launch of the EOS mainnet this year was largely responsible for its position in these rankings. The blockchain's parent company Block.one handed out a whopping $120,000 of the total to just one hacker, Dutch cyber-security expert Guido Vranken, who found 11 different technical vulnerabilities in the network.
How to make $80k in one day: Blockchain bugs. Congrats @GuidoVranken and best of luck on your future bugs! #bugbounty @Hacker0x01 Find bugs on @eos_io and get rewarded on HackerOne! https://t.co/YpsA2LdIA0 #EOS pic.twitter.com/ZHrr6ifoKV— Jon Bottarini (@jon_bottarini) June 4, 2018
Thank you. A couple more waiting to be rewarded. I think the final tally was $120K but I lost count. Took me about a week.— Guido Vranken (@GuidoVranken) June 4, 2018
Around 3,000 different bugs have been submitted to HackerOne since the various bug bounties programs were launched.
In an interview with TheNextWeb, HackerOne CEO Marten Mickoson said that "vetting by independent hackers is a must...With a large community of hackers looking for security vulnerabilities, there is a real chance of finding and fixing the weaknesses in time."