Definition ∞ A bug bounty is a program where organizations offer financial rewards to individuals who discover and report software vulnerabilities. These programs incentivize security researchers to identify flaws in code, protocols, or systems before malicious actors can exploit them. For blockchain projects, bug bounties are a critical component of security auditing, helping to uncover potential exploits in smart contracts and network infrastructure. This proactive security measure helps fortify digital assets and user funds against compromise.
Context ∞ In crypto news, bug bounties are frequently highlighted following significant security breaches or when new protocols launch with extensive reward programs. The effectiveness of these programs is often discussed, especially regarding the size of rewards and the responsiveness of development teams to reported issues. Future trends indicate an increasing reliance on bug bounties as a standard practice for maintaining the integrity of decentralized applications and blockchain networks.
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