Ethereum Launches First-Ever $2M 'Attackathon' to Boost Blockchain Security

<h4>Main Takeaways:</h4>
<ul><li>Ethereum's security team launches a four-week "Attackathon" with a $2 million reward pool to test blockchain security.</li><li>Researchers will find vulnerabilities in Ethereum's code in the largest crowdsourced security audit.</li><li>The event starts with a technical walkthrough, and Immunefi will compile findings into a report.</li><li>EPS plans similar events for future hard forks, including the upcoming "Pectra" hard fork in 2024 or 2025.</li></ul>
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 Scheduled to kick off with a $2 million reward pool, Ethereum's first-ever hackathon, dubbed the "Attackathon," aims to be the most extensive crowdsourced security audit of the blockchain’s codebase. Security researchers will participate in a four-week, time-bound audit challenge to uncover vulnerabilities in the protocol's code. In a blog post dated July 8, the Ethereum Protocol Security (EPS) research team detailed the event, emphasizing the need for participants to adhere to specific competition rules. Only impactful and rule-compliant reports will be rewarded. <h4>Event Structure</h4>
The hackathon will begin with a technical walkthrough of Ethereum's codebase, ensuring participants are well-prepared to identify and understand potential vulnerabilities. Once the event concludes, bug bounty platform Immunefi will compile the findings into a comprehensive report detailing the discovered vulnerabilities. 

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 <h4>Funding and Future Plans</h4>
The EPS team has contributed $500,000 to the prize pool and is seeking additional sponsors to raise the remaining $1.5 million by August 1, when further details will be disclosed. The team plans to host similar hackathons for every future hard fork, covering changes to the codebase <h4>Upcoming Hard Forks and Features</h4>
Ethereum’s next significant update, the "Pectra" hard fork, is expected to go live later in 2024 or early 2025. It combines the "Prague" and "Electra" upgrades. Major user-focused updates include a "social recovery" feature that could eliminate the need for the traditional 24-word private wallet key, introducing smart contract-like features to wallets. This initiative by Ethereum underscores the importance of security in the ever-evolving blockchain ecosystem, ensuring the network remains robust against potential threats.

Further Reading:<ul><li><a href="https://blog.maskex.com/academy/explainers/layer-zero-the-foundation-of-blockchain-technology">Layer Zero: The Foundation of Blockchain Technology</a></li><li><a href="https://blog.maskex.com/tv/video-explainers/layer-1-blockchain-the-core-of-blockchain-technology">Layer 1 Blockchain: The Core of Blockchain Technology</a></li><li><a href="https://blog.maskex.com/academy/explainers/proof-of-work-pow-and-proof-of-stake-pos-how-do-they-work">Proof-of-Work (PoW) and Proof-of-Stake (PoS): How Do They Work</a>?</li></ul>
 
Disclaimer:The information provided is for informational purposes only and should not be considered as trading advice. MaskEX.com bears no responsibility for any investments made based on the information provided on this page. We highly advise conducting independent research and/or seeking guidance from a qualified professional before making any investment decisions.

MaskEX Academy Team

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