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What is Bug Bounty?
Offering bug bounties is done in the hopes that security flaws will be found and disclosed to the software's creator. Businesses involved with the cryptocurrency industry, including protocols, exchanges, and wallet providers, frequently give bug bounties. Bounty schemes can be compared to friendly hacker competitions. The plans are displayed to the public. The organization providing the bug bounty will have the ability to repair any discovered vulnerabilities before malicious actors are made aware of them. Before releasing a product, developers should focus their efforts on writing secure code and reducing vulnerabilities. Even the most cautious developers, though, will unavoidably overlook defects, and some of them could present security problems. Therefore, bug bounties serve as a crucial second line of defense, shielding software owners and consumers from malicious actors.