The Role of Bug Bounty Programs in Web3 Security

As different industries adopt the blockchain into their systems, as an essentially software-based product, it is inevitable that software bugs, security flaws, and vulnerabilities will at some point appear in the systems (Melo, 2023). The inevitability of bugs and vulnerabilities in smart contracts and blockchain-based systems presents important security issues; if malicious…

Vulnerabilities within smart contracts and blockchain-based systems are inevitable, and as such, much effort has always been placed into identifying these bugs and possible means of exploitation. In fact, even before the emergence of Web3, companies hired…