Cardano $1M Challenge: Test the New Lace Wallet Robust Securit
Charles Hoskinson offers $1M to anyone who can hack Cardano Lace Paper Wallet, aiming to bolster its security.
At the Rare Evo 2024 event, Charles Hoskinson, the founder of Cardano, issued a daring challenge: a $1 million bounty for anyone who can successfully breach the security of the newly introduced Lace Paper Wallet. This initiative, announced via a video on X, is part of Cardano commitment to enhancing platform security by engaging the community in uncovering potential vulnerabilities.
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The Lace Paper Wallet is a groundbreaking feature of Cardano’s Web3 wallet, Lace. It simplifies the security process for users with existing PGP keys, enabling wallet restoration through a single encrypted QR code. In conjunction with this feature launch, Cardano has introduced the Lace Paper Wallet Bug Bounty Program, inviting cybersecurity experts to put the wallet’s defenses to the test. The program runs until the end of 2024 or until a successful hack occurs.
In addition to this security focus, Cardano showcased its Hydra scaling solution during the event by processing frames of the classic game Doom as blockchain transactions. This demonstration underscores Hydra’s capacity for high-throughput, real-time applications, which could have significant implications for sectors like finance and supply chain management.
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