Ethereum Wallet Status Pledges $1 Million for New Bug Bounty Program

Ethereum mobile wallet Status, which recently raised more than $100 million in a token sale, has announced a $1 million bug bounty.

Announced at ethereum's annual developer conference Devcon3 today, the program invites people to submit possible solutions to issues currently facing the wallet.

While the initial bounties will be used to compensate people that find bugs within Status' own software, as well as perform other useful tasks, a spokesperson told CoinDesk that more funds will be raised to provide bug bounties for other open-source projects in the future.

On top of that, employers can browse the bounty site for emerging talent – a potentially useful feature, since many firms complain there aren't enough developers to fill the many roles open in blockchain-focused projects.

Also announced at Devcon, Status has developed a hardware wallet – a dedicated storage device that supports ERC-20 tokens and uses near-field communication (NFC) and Bluetooth to transfer cryptocurrencies when needed.

Status' mobile wallet (for both Android and iOS) allows people to send and receive ether (ethereum's native cryptocurrency) and also lets users browse the collection of decentralized apps (dapps) built on ethereum.

With its coffers full following the recent token sale, Status is one of the core sponsors behind the Devcon3 conference in Cancun, Mexico, this year.

Magnifying glass image via Shutterstock