Ethereum Wallet Status Pledges $1 Million for New Bug Bounty Program

Ethereum mobile wallet startup Status announced a hardware wallet and bug bounty program during the Devcon3 conference today.

AccessTimeIconNov 2, 2017 at 1:35 p.m. UTC
Updated Sep 13, 2021 at 7:06 a.m. UTC

Ethereum mobile wallet Status, which recently raised more than $100 million in a token sale, has announced a $1 million bug bounty.

Announced at ethereum's annual developer conference Devcon3 today, the program invites people to submit possible solutions to issues currently facing the wallet.

While the initial bounties will be used to compensate people that find bugs within Status' own software, as well as perform other useful tasks, a spokesperson told CoinDesk that more funds will be raised to provide bug bounties for other open-source projects in the future.

On top of that, employers can browse the bounty site for emerging talent – a potentially useful feature, since many firms complain there aren't enough developers to fill the many roles open in blockchain-focused projects.

Also announced at Devcon, Status has developed a hardware wallet – a dedicated storage device that supports ERC-20 tokens and uses near-field communication (NFC) and Bluetooth to transfer cryptocurrencies when needed.

Status' mobile wallet (for both Android and iOS) allows people to send and receive ether (ethereum's native cryptocurrency) and also lets users browse the collection of decentralized apps (dapps) built on ethereum.

With its coffers full following the recent token sale, Status is one of the core sponsors behind the Devcon3 conference in Cancun, Mexico, this year.

Magnifying glass image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.