Parity announcing bug bounty program

ParityTech has announced the launching of a bug bounty program
24 July 2017   5243
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.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   333

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.