The Ethereum Foundation boosts its bug bounty to $500,000 as the Shapella update nears

The Ethereum Foundation has upped the maximum bug bounty for the Shapella update to $500,000.

In preparation for the forthcoming Shapella update to the Ethereum blockchain, the Ethereum Foundation has increased the maximum bug prize for uncovering associated vulnerabilities to $500,000.

At block number 6,209,536 on the mainnet, the long-awaited Shapella upgrade—also known as Shanghai-Capella—will be released on April 12. Its primary feature is Ethereum Improvement Proposal-4895, which will permit validator withdrawals from staking for the first time on the leading network. It also provides three more enhancements to optimize gas expenses for certain activities.

During a meeting with developers on Thursday, Fredrik Svantes, a security researcher at the Ethereum Foundation, discussed the higher incentive as part of the final testing efforts.

A bug bounty is a program organization established to incentivize individuals or groups to discover and disclose security flaws in their software or systems. The prizes may vary depending on the severity and possible effect of the reported problem.

The doubling of the maximum payout for finding vulnerabilities in Shapella may be seen as a preventive measure to ensure network security. According to the official website, the Foundation’s bug bounty program addresses vulnerabilities in numerous network components, including the blockchain consensus architecture, proof of stake, network security, and consensus integrity.

Parithosh Jayanthi, a devops engineer at the Ethereum Foundation, said that once the final client software updates are available, engineers would initiate a “shadow fork” on the mainnet to test these releases.

“Once all [client] releases are complete, we’ll have a mainnet shadow fork, and I believe that will be the last public attempt at the transition before we launch mainnet,” Jayanthi said.

Three test networks, or testnets, including Sepolia, Zhejiang, and Goerli, have been subjected to significant public testing by the developers. Shapella was installed on the Goerli testnet on March 14 as the last dress rehearsal before the launch of the mainnet.

During the Thursday meeting, developers advised all Ethereum network node operators to upgrade their nodes before launch to guarantee a seamless transition.

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