The CEO and founder of the Elrond Network, Beniamin Mincu launched a 15-day campaign offering $60,000 for the person that will break the network’s blockchain. Two years after revealing his ‘’secure proof-of-stake’’ sharding protocol, Mincu and his 24-person team will offer you a reward if you can crash their code so let’s learn more in the Blockchain latest news.
Mincu’s plan called the ‘’Battle of the Nodes: Unchained’’ is to have white hats expose every bug, vulnerability, and critical breaking point on the Elrond network before malicious actors do that themselves. The testnet trial will prove if the network is ready for the mainnet launch:
“When we have 15 days without interruption of the network despite this kind of attack and stress testing, at that point we know Elrond is finally prepared and good – robust enough to go live.’’
Elrond’s 15-day clock will reset once the interrupters will manage to take the network down. Nobody has done so yet as the network’s protocol has foiled three attacks so far. The underminers have uncovered plenty of low-level bugs that are worth fixing which is enough to keep the nodes running for a piece of that $60.000 reward paid out in the ERD token, as Mincu said:
“We’re on a daily basis discovering some things that we can improve from the validators. We usually do one or two releases per day, patching the bugs, clarity issues and other pain points that the battle’s 1,700 node participants dredge up.”
The effort is not just about the money. Beniamin Mincu says that it is also a competition for mainnet validator slots. Some 34% of the Elrond’s initial 1500 nodes, will go in part to trusted parties that helped the hunt for bugs. It will also give Elrond a chance to flex its network specifications. By Tuesday, the blockchain which owns a divide and conquers consensus mechanism which assigns validator work to a member of the sharding groups, posted peak transactions per second of 712, while Mincu said it could handle up to 10,000 at full tilt.
Join the 🌎 1700 nodes which are already in battle alongside established staking pools.
The Elrond Mainnet launch only happens once, make sure you’re part of it.https://t.co/XV8rtJmyKS
— Beniamin Mincu ⚡ (@beniaminmincu) June 9, 2020
The 1,7000 nodes are not really the original projection of Mincu’s 700-800 participants when he announced the bug bounty battle within a week’s notice. All of those that are eager to break the blockchain and to contribute the network over time, can join now, as Mincu said.
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