Parity announcing bug bounty program

ParityTech has announced the launching of a bug bounty program
24 July 2017   3423
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Today, July 23th, Parity Technologies anounced the launching of their bug bounty program, following the vulnerability found in the Parity wallet, which resulted in at least $30 million theft

As the company reports in its blog, the recent events have shown them that it's not always enough to have good programmers, open-source software and peer reviews in order to ensure no critical bugs make it through to release. Yet, there is inevitably some degree of duplication that this regrettably implies across any given software's user base.

Thus, Parity is starting a bug-bounty program. In other words, the team appeals to the community to help itself.

In order to minimise any potential technical security issues the bounty funds will be initially collected into a cold-wallet account managed by Parity, the company claims. This will be transitioned into a multi-sig once Parity has finalised who the trustees/"owners" of the multi-sig will be that will judge and administer any payments to be made from the fund.

Parity bug bounty program Parity bug bounty program

Anyone who would like to contribute to the Bug Bounty Programme should send funds to the address shown on the screenshot or if using Parity Wallet, the name bugbounty.

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The program will initially cover the Parity Ethereum client for the latest released versions of beta and stable branches, together with staging branches during the QA period prior to a release. It will be a narrow-focussed fund covering specifically security issues, rather than more general setup, crashing or consensus issues. Depending on feedback from donors, this may be extended in scope at a later time, to cover areas of consensus and other clients and infrastructure that do not currently have a bug-bounty program, ParityTech claims.

The initial targets of this will be Parity's key management (to ensure secrets cannot be compromised or misused), Parity's auto-update Operations contract and Parity's multi-signature Wallet.

In addition, Parity will be reaching out to a number of well-respected security professionals and teams to create a club of bounty-hunters in the near future.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   117

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.