Immunefi launches blockchain arbitration system for bug bounties
Immunefi launched the first blockchain-based arbitration system for bug bounties, aiming to boost trust, legal enforceability and enhanced cybersecurity across the industry.
Immunefi, a blockchain security firm, launched the world’s first legally binding blockchain dispute resolution system, which may set a precedent for more blockchain-based legal applications.
The system, announced on Jan. 21, is the first blockchain-based dispute resolution platform for bug bounties — open calls for developers to review a project’s code for vulnerabilities, prevent hacks and earn rewards.
While previous bug bounty programs relied on trust between parties, the new Immunefi Arbitration system legally binds projects to pay their bounties, according to an announcement shared with Cointelegraph.
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Author: Zoltan Vardai
