In a press release published by PRNewswire on September 13, South Korea’s first blockchain project BOScoin revealed that it had signed a memorandum of understanding (MOU) with Korea Internet & Security Agency (KISA) to start up a reward program for Koreans who detect software vulnerabilities.
After setting up ARIST (Advanced Research Institute for Social Trust) in May with the aim of verifying its platform reliability, scalability, and privacy on its mainnet from an engineering perspective, and releasing their testnet’s source code to the public in June, the firm has started polishing their mainnet, collecting user feedback from the developer community. The MOU with KISA allows BOScoin to collect and apply feedback from the white hat hacker community and speed up development and verification of their mainnet.
BOScoin and KISA’s vulnerability reward program will reward users who report software vulnerabilities. The program will help BOScoin create a safer cyber environment, with security vulnerabilities are fixed in advance. Other countries have similar bounty programs. In South Korea, the KISA launched their bug bounty program back in 2006 and has been running the program since 2014. Any Korean residing in or out of the country are eligible to participate in the reward program via KISA’s website. BOScoin and KISA offer a maximum reward of 10 Million Won.
In a statement, BOScoin CEO Yezune Choi spoke about the reward program, saying:
“BOScoin is focusing our full attention on increasing technical completeness of the mainnet. The internal verification through the ARIST as well as experts’ verification through the community feedback and the broad verification through white hackers will help us identify and remediate any vulnerabilities in the mainnet, making it safer.”
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