The real-world security provider IoTeX announced a strategic partnership with HackenProof to improve blockchain security. The network and the projects being built on can access cybersecurity features from HackenProof. IoTeX has also launched a bug bounty program with its new partner to identify any critical bugs from the network.
The IoTeX blockchain is a real-world security provider launched in 2017 that uses blockchain security on real devices. The network can link real-world data to any data instantly without compromising security. IoTeX runs with a vision of creating an open environment where humans and machines can interact with utmost privacy and trust.
The IoTeX team consists of engineers and developers from Big Tech companies like Uber, Google, Intel, Facebook, etc. IoTeX has developed a blockchain-powered home security camera called Ucam. The device has won the CES innovation award for 2020 and can offer the security you need for as low as $50.
As per the newsletter shared by IoTeX, HackenProof has joined the ecosystem through a formal partnership. HackenProof is a web3 cybersecurity ecosystem that offers services to more than 800 clients in Europe, Asia, and North America. Moreover, the network’s partnership portfolio has more than 80 partners, including Avalanche, Polkastarter, CoinMarketCap, Weld Money, CoinGecko, and Simplex, to name a few.
The latest partnership of IoTeX with HackenProof will add a new layer of security to the network. IoTeX hopes that this integration will bring the cybersecurity of the ecosystem and the project to new levels. The primary focus of HackenProof will be on Penetration Testing and Security Assessment in the IoTeX ecosystem.
As a leading cybersecurity Project, HackenProof has helped IoTeX launch a bug bounty program to discover the critical bugs in the network. Verified and approved bugs can get rewards from $50 to $15,000, depending on how critical they are. It will also strengthen the network’s partnership with HackenProof and find out compatibility issues if any.
The bug bounty program will cover five systems for rewards, namely web, API, mobile, desktop, and infrastructure. HackProof will quickly disburse the rewards from the bug bounty deposit funded by IoTeX once the findings are verified. It has been reported that already 22 hackers have been working on the network for two days since the launch to look for inconsistencies.
IoTeX has also listed several critical categories that it intends to improve through this bug bounty program. It includes “business logic issues, payment manipulation, remote code execution, and injection vulnerabilities.” Third-party applications and external assets will be taken for rewards.
This mutually beneficial deal with IoTeX will help the network HackenProof go closer to acquiring a 20% share of web3 cybersecurity by 2024.