news hardware How to make 1 million dollars with The Merge of Ethereum?
As the second largest cryptocurrency prepares its update for the next few weeks, the Ethereum Foundation has organized a hunt for potential bugs after The Merge. If you are a developer, the topic can be fruitful…
Ethereum is preparing the merge update
The Ethereum update dubbed The Merge (Fusion) is upon us. The event, officially scheduled for mid-September, will switch the validation system of the second largest cryptocurrency from PoW (Proof of Work) to PoS (Proof of Stake).
Expected by the crypto industry for several years, the event will bring about profound changes in the network. Therefore, the merge update is non-trivial and the Ethereum Foundation wants to make sure everything is working while deploying this update.
In fact, with tens of millions of users, if Ethereum has the slightest vulnerability, it could have catastrophic consequences.
In a precautionary logic, the “Ethereum Foundation”, one of the most important organizations of Ethereum, has therefore announced a hunt for possible errors related to the outcome of the update.
If you say work, you say reward: The foundation has promised exceptional reward to motivate the troops. Normally set at $250,000, the bonus for this case is up to $1 million for anyone who finds a bug resulting from Ethereum update The Merge.
However, to get the biggest bug bounty in Ethereum history, you need to be efficient. In fact, researchers and cybersecurity specialists only have a few weeks to find a possible flaw. The Ethereum Foundation intends to give participants two weeks, as the payment deadline is set for September 8, a few days before The Merge is set up on the main Ethereum network.
“All vulnerability fusion rewards have increased fourfold through September 8th. Critical bugs are now worth up to $1 million. says the Ethereum Foundation.
The announcement of this bug fix is not accidental – it reflects the recent discovery of 2 critical security vulnerabilities. To ensure the smooth running of this Ethereum revolution, several actors themselves contribute to ensure the security of the network in a decentralized environment.
With less than 3 weeks to go before launch, Ethereum users are nervous. Hopefully this exceptional bounty motivates them to secure the network before The Merge arrives.
