Regardless of what happened in the spot market, Ethereum [ETH] has stayed focused on the development of its network. Only a few days ago, the team announced the introduction of the Altair update, commonly known as the Beacon Chain’s first mainnet upgrade. The update is slated for epoch 74240, or about the 27th of October.
To educate the community on the forthcoming changes to Ethereum as a result of the Altair update, the team has created an engaging game rather than a competition.
The bug bounty program, which formerly allowed anybody to earn money for discovering flaws, has been renamed “ETH2 bug bounties.” Additionally, until the update, community members who identify bugs will get twofold rewards.
Clients will execute the beacon chain after the upgrade is released, according to the team in a blog post. Clients must adhere to the logic outlined in the standard and be protected from potential attacks. The flaws we’re looking for are in the protocol’s implementation.
It went on to say that Lighthouse, Nimbus, Teku, and Prysm bugs were now eligible for the prize. There were, however, different levels of bugs and rewards to consider. A user will receive almost $2,000 for low-impact vulnerabilities, while serious bug hunters would win close to $50,000. The squad, on the other hand, wanted everyone to know that this was a game, not a competition.
The bug bounty program, they explained, is an experimental and discretionary rewards program for our active Ethereum community to encourage and reward individuals who contribute to enhance the platform. This isn’t a contest. You should be aware that we have the right to terminate the program at any time, and that rewards are made solely at the discretion of the Ethereum Foundation bug bounty panel.
For a successful rollout, the team needed to discover and solve any existing issues as Altair became closer by the day. The upgrade will strengthen the core consensus, improve beacon state incentive accounting, and address validator incentive problems.
To secure the PoS protocol’s economic security, EIP-2982 included “punitive parameters.” The Altair update will increase these parameters, with penalties such as “inactivity leak” and “slashing” being proposed.
Over the last week, while the Ethereum network prepared for the update, Ether grew by over 13%. At the time of publication, the digital asset was trading for $3,421.