OpenBounty, Shentu’s New Approach in Security Ecosystem
No sign-up fee; publish details on-chain; ensuring payments
This article has 7 parts. It takes 8 minutes to read.
Shentu’s security ecosystem operates on a comprehensive cycle, offering end-to-end solutions to safeguard blockchain projects. Key components include the OpenBounty program, the Shentu Security Oracle, and the Shentu Shield.
OpenBounty as a Preventive Measure
OpenBounty serves as a preemptive measure in the security cycle. It establishes a secure and transparent environment for bug bounty programs, fostering collaboration between projects and white hat hackers. By utilising blockchain technology on the Shentu Chain, OpenBounty ensures permanent and tamper-proof records of project vulnerabilities and bug reports.
OpenBounty: Safeguarding Web3 Together
OpenBounty, at its core, is designed to address the inherent risks and vulnerabilities in the Web3 industry. It serves as a decentralised bounty platform that connects projects with skilled white hat hackers, providing a mutually beneficial arrangement for securing projects and rewarding ethical hackers.
Unique Features of Shentu’s Security Ecosystem
Shentu’s security ecosystem stands out from traditional bug bounty programs and security platforms through several distinctive features:
1. Blockchain Transparency and Permanence:
OpenBounty utilises blockchain technology to create a transparent and tamper-resistant environment. The Shentu Chain ensures permanent records, preventing any manipulation of project and white hat findings.
2. Efficient Bounty Payouts:
The on-chain records on Shentu simplify the bounty payout process, eliminating concerns about payment disputes. This transparency enhances trust between projects and white hat hackers, fostering a collaborative and efficient bug bounty ecosystem.
Users of OpenBounty
OpenBounty caters to a diverse set of users, including:
1. White Hat Hackers/Security Researchers/Blockchain Developers:
Individuals with the skills to identify and report vulnerabilities are incentivised to contribute to project security through bug bounty programs.
2. Web 3 Projects:
Any Web 3 project looking to enhance its security and reliability can utilise OpenBounty to engage with the white hat hacker community.
How OpenBounty Works
The process is straightforward:
1. Signup & Submit Project Bounty:
Projects sign up on OpenBounty, define the scope, and set the bounty for identified vulnerabilities.
2. Share Bounty to White Hat Hacker Community:
The bounty information is shared with the white hat hacker community, inviting them to participate in identifying and reporting bugs.
3. Report Bugs by White Hat Hackers:
White hat hackers actively search for and report vulnerabilities in the defined scope.
4. Claim Bounty & Share:
Projects review reported bugs, claim the bounty, and share rewards with the successful white hat hackers.
Sign Up Link Below:
https://openbounty.shentu.technology/
Bounty Reward Structure
The bounty rewards are set by projects based on the severity of the findings and the completeness of the proposed solutions. Critical severity issues are typically rewarded more than medium severity issues.
Future Plans of OpenBounty and Shentu Chain
Shentu envisions becoming the go-to Web 3 security hub. While there is a roadmap in place, the company remains agile to market-oriented security needs, fostering strong innovations to adapt and address emerging challenges.
In conclusion, Shentu’s OpenBounty and security ecosystem represent a pioneering approach to cybersecurity in the Web3 space. By combining blockchain technology, decentralised bug bounty programs, and comprehensive security solutions, Shentu aims to secure the future of decentralised technologies. “Securing Web3 together” is not just a motto but a mission that drives Shentu’s commitment to building a resilient and collaborative security ecosystem for the entire blockchain community.
