Ethereum is set to launch its first hackathon, the “Attackathon.” The hackathon, which has a substantial $2 million reward pool, will involve conducting a comprehensive crowdsourced security audit of its blockchain’s codebase. Here’s what you need to know about Ethereum’s Attackathon.
What is Ethereum’s Attackathon?
Ethereum’s Attackathon, which is set to take off, is a security-focused hackathon that aims to audit its blockchain’s codebase comprehensively. The Attackathon will involve security researchers extensively searching for vulnerabilities within the Ethereum protocol. All participants must follow specific competition rules, with rewards exclusively granted for impactful and legally compliant vulnerability reports.
Enhancing Ethereum Security Through The Ethereum Attackathon
The Attackathon will begin with an extensive technical walkthrough of the Ethereum codebase. This will provide participants with comprehensive information and tools to identify and understand potential vulnerabilities effectively. This fundamental stage guarantees that participants have the tools to conduct thorough security audits, improving Ethereum’s blockchain security overall.
Establishing a collaborative ecosystem centred on proactive vulnerability detection strengthens Ethereum’s commitment to providing a safe and robust platform for its developer and user community worldwide.
After the “Attackathon,” the bug bounty platform Immunefi hosting the event will compile findings into an extensive report highlighting vulnerabilities. By August 1, when more event specifics will be revealed, Immunefi hopes to have secured an additional $1.5 million from sponsors in addition to the $500,000 it has already donated to the prize pool.
FAQs
What is the Merge Ethereum?
The Ethereum Merge is a network update that transitions Ethereum’s consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS).
Is Ethereum the second-largest cryptocurrency?
After Bitcoin, Ethereum (ETH) is the second most popular cryptocurrency. Founded in 2015 by Vitalik Buterin and Gavin Wood, Ethereum’s market value now accounts for 20% of the $1.1 trillion global cryptocurrency market.Â
What is the new cryptocurrency, Ethereum?
Ethereum is a platform for decentralized computing that supports several applications, including DeFi as a whole.
What is ETH 2.0 merge?
The Merge marked the Ethereum blockchain’s shift from a mining-based proof-of-work (PoW) to a more scalable proof-of-stake (PoS) mechanism.Â
Which crypto can beat Ethereum?
Solana (SOL-USD), a well-known “Ethereum Killer,” is said to be a possible alternative to Ethereum.
Who is controlling ETH?
The Ethereum protocol is developed collaboratively by numerous stakeholders in the Ethereum ecosystem, and no single party controls it.
Who is the CEO of Ethereum?
Vitaly Dmitrievich Buterin, popularly known as Vitalik Buterin, was born on January 31 1994. He is a computer programmer and co-founder of Ethereum.Â
Takeaways
Ethereum’s inaugural “Attackathon” aims to significantly enhance blockchain security by involving a global community of security experts in a full audit. Moving forward, the EPS team intends to hold such hackathons around each significant codebase change throughout Ethereum’s hard forks.
