The good news is that theChainLink, Bug Bounty Program on gitcoin and Hacker0 x 01 has been expanded to provide $100K for the responsible disclosure of any critical vulnerabilities, further increasing the robustness of the Chainlink Network.
They are doing this to ensure that the ChainLink Network would continue to facilitate smart contracts access to a highly secure and reliable source of external data.
Reportedly, the Chainlink Bug Bounty Program is extended to provide for $100,000 in cash or LINK for the responsible disclosure of critical vulnerabilities in the Chainlink codebase.
The Chainlink bug bounties is arranged to be available through Gitcoin and HackerOne, thus providing support for individual developers and teams of security engineers who will be contributing towards the resilience and robustness of the Chainlink Network.
ChainLink users are working closely with the security community providing additional assurance which the oracle infrastructure and their smart contracts rely upon. The oracles have been audited by multiple professional firms, which have been reviewed by numerous independent developers who are getting a large incentive to explore every line of code. This expansion of financial support for the Chainlink Bug Bounty Program applies to several existing bounties across multiple marketplaces.
The major goal of expanding the Chainlink Bug Bounty Program is to improve the support of the white hat developer and security community for their continuous hard work and also to ensure Chainlink’s core infrastructure to evolving to be more robust and resilient versus potential vulnerabilities.
Needless to state that being the most widely used decentralized oracle solution in the smart contract space, they are taking security measures very seriously. And, they are forever focused on increasing the numbers of eyes which review the Chainlink codebase as a means to further protect user funds and the DeFi ecosystem as a whole.
These reviews are meant to identify any issue which would lead to the integrity of a Chainlink node or network being compromised, misreporting data, experiencing downtime, or resulting in a direct loss of funds and therefore are attended to with highest priority.
The Chainlink Network are focusing on improving tamper-resistance, thus making sure that they can scale up in total value, this securing and protecting the DeFi ecosystem today and also working its way further well into the future.
Further, NetObjex, IoT automation platform are using ChainLink to bring IoT data on-chain and to trigger smart contracts around real-world sensor readings, thus making it possible for enabling novel use cases like token rewards for travelers who are consuming less water and energy at IoT-connected hotels.