Binance Chain Mainnet for New DEX Trading Platform Offers BNB Bug Bounty Program for $10,000


Binance, the largest digital asset exchange in the market, has recently launched the new bug bounty program that aims at finding bugs and issues on the Binance decentralized exchange (DEX). The information was released by the company a few hours ago in a blog post.

Binance Launches Bounty Program for its DEX

Binance is currently offering a bounty of up to $10,000 USD to be paid in Binance Coin (BNB) for each vulnerability found by developers. These bugs should be found on .binance.org -dex.binance.org and Binance Chain. The submissions must be reported in this link.

The reward will be evaluated taking into account the level of security impact related to the vulnerabilities found. The rewards are going to be issued within 2 weeks after the vulnerability report is verified.

Binance mentioned that it will only be rewarding just the first verified report of a specific vulnerability. If there are users that share similar reports, these will not be rewarded.

Binance is currently working on a decentralized exchange that aims at improving the services offered by the company. Decentralized exchanges allow users to remain in control of their private keys. Nowadays, centralized exchanges are in control of users’ private keys. If there is a hack or the exchange is affected, users are in danger.

There have been several exchanges hacked during the last few years. The most popular case is related to Mt. Gox that lost around 800,000 BTC.

Although decentralized exchanges provide better security over centralized platforms, they do not have a friendly user interface and they work less smoothly than traditional exchanges. Even when DEXs have been released to the market, they were not able to gather enough attention. This is why Binance’s decision to launch its DEX could help the space move towards these new platforms.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) Price Prediction

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide