Charles Hoskinson Bug Bounty: $1 Million Reward for Hacking Lace Paper Wallet

Taking to his official X account page, Charles Hoskinson challenged the community with $1 million. At the Rare Evo 2024 event, the Cardano Founder promised a $1 million bounty to anyone who could hack into Lace Paper Wallet.

Cardano (ADA) is on the cusp of several crucial on-chain updates. As one of the most advanced blockchain networks, boosting security is a top priority for founder Charles Hoskinson. Maintaining robust security will be key in ensuring the community’s continued trust.

Charles Hoskinson Bug Bounty Unveiled Taking to his official X account page, Charles Hoskinson challenged the community with a $1 million bounty. At the Rare Evo 2024 event, the Cardano founder announced a $1 million bounty for anyone who could successfully hack into Lace Paper Wallet.

Manufactured by Input Output Global, Lace Wallet is one of the most advanced wallets in the Cardano ecosystem, boasting a high level of security. As Hoskinson mentioned in a clip shared on X, this challenge attests to that fact.

“If you can hack it, you can keep it,” Hoskinson stated, directly referring to the $1 million bounty. The goal of this challenge is to uncover an attack vector that the Lace Wallet developers may have overlooked.

Significantly, the wallet recently integrated the Paper feature as a new security update, making it even more difficult to breach. If members of the ADA community uncover a vulnerability through this challenge, the team can swiftly rectify it before any user sustains a loss.

Cardano Ecosystem: Major Growth Moments Highlighted Charles Hoskinson is notably one of the co-founders of Ethereum, though he departed from the project a few years before it ascended to prominence in the blockchain landscape.

Following his departure, he conceived Cardano as an endeavor to surmount some of Ethereum's core challenges, which include decentralization, security, and scalability.

Over the years, the blockchain has unveiled several innovations that directly address these focal areas. While it aims to tackle the scalability challenge with Hydra Head, it introduced the Midnight Protocol toward the end of last year to address privacy concerns.

Presently, Cardano is on the cusp of transitioning into the Voltaire Era via the Chang Hard Fork. This upgrade will pave the way for the Proof-of-Stake (PoS) network to hand over governance control to community members. If achieved, this will position the protocol as one of the first in the industry to attain this milestone.

According to an update from Cardano Feed, the Block transition to the Chang Hard Fork is at 80%. This indicates that the upgrade could be imminent, setting a new course for the blockchain.

Cardano Price Analysis Despite its absence in the Decentralized Finance (DeFi) sector, the price of Cardano has shown some resilience in recent times. At the time of writing, the coin experienced a 1.29% gain, trading at $0.3365.

This marks a relative uptick, considering that the coin encountered a 3.18% and 20.78% price decrease in the past week and month, respectively.

Members of the Cardano community are optimistic that the anticipated network milestones may soon bolster their fortunes. Upon its launch, the Chang Hard Fork will accord ADA holders with governance control. This may spur greater coin accumulation, as participation in governance could potentially come with incentives.

Proponents of ADA posit that the asset is still trading at a price that belies its true worth. They anticipate a more bullish surge if the protocol delivers on its promises.

The above is the detailed content of Charles Hoskinson Bug Bounty: $1 Million Reward for Hacking Lace Paper Wallet. For more information, please follow other related articles on the PHP Chinese website!