Smarter Bug Bounties? Hydra Codes Creative Solution for Ethereum Theft
Can the right alignment of incentives encourage better blockchain bug reporting? That's the goal of Hydra, a new effort funded by the National Science Foundation Graduate Research Fellowship and designed by a team of researchers including Lorenz Breidenbach, Phil Daian and Ari Juels from Cornell, and Florian Tramer from Stanford. Announced today at ethereum's annual developer conference, Devcon3, the Hydra project is novel in that its contracts aim to automatically and programmatically offer those who report a bug higher rewards than they'd get if they exploited one. In this way, if a user's smart contract hack would result in a reward of 100 tokens, Hydra would pay…