Shaurya Malwa · 1 day ago · 2 min read
On Oct. 25, the IOTA foundation revealed a bug bounty program for their Trinity wallet is now extended to project enthusiasts and the broader cryptocurrency community, from being a third-party audit process as earlier.
Bounty Campaign Opens to Public
The Trinity “Public Bug Bounty” is open to independent security researchers from all sectors, encouraging professionals to find critical bugs in the wallet for a considerable bounty upon success.
IOTA states the Trinity wallet was “warmly welcomed” by the coin’s community, improving on each aspect of the previous wallet with a focus on design, usability, security, and platform compatibility. Also, the application’s “beautiful” user experience was created without compromising on the security of stored assets.
However, IOTA believes security requires a continual approach to maintain reliability:
“The team has delivered a great product. [But], even after the multiple external audits we’ve had on the Trinity Wallet, we understand that security isn’t something you ever finish. It’s a continual process.”
Since launch, private bug bounty program Bugcrowd was used to access the functionality of critical information, reveals IOTA. Bounties were priced from $100 to $1,500 depending on the severity of the vulnerability, with average payouts at $900 for August – October 2018.
Trinity is a mobile and desktop wallet aimed at “non-technical” users of IOTA. User accessibility, safety, and a “foolproof” user interface are considered the product’s primary USPs. The cross-platform application, still in beta stages, was developed using React Native for Android and iOS devices and Electron for Windows, Linux, and MacOS.
Launched in May 2018, the Trinity wallet was developed after IOTA’s initial wallet was called out for its complicated, unfriendly design and unimpressive security features.
Thus far, two external security audits have been conducted to identify any threats or bugs associated in the wallet. Both were fixed upon discovered and are available for public review on the Trinity website.
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