How to Compare Bug Bounty Solutions for Web3 Companies
When your web3 business must choose a bug bounty vendor, you need to list several decision-making criteria.
You can segment those criteria into 4 groups:
Industry-Asset Match
Competing Criteria
Workflow Differences
Experience & Compliance
Bug Bounty Solution Criteria Explained
Industry-Asset Match
Primary Expertise
When choosing a business solution, you must understand if they’ve worked with your digital asset types.If not, then they may not have the right experience to solve your security challenges.
For example, if you have a desktop app that runs on smart contracts, you may need to check if the solution vendor has worked before with desktop apps that run on smart contracts.The same applies to web & mobile apps as well as blockchain protocols.
Customer Industries
Some software features are specific to a certain industry.
For example, Ethereum NFTs use smart contracts that run on the ERC-721 and ERC-1155 token standards. In contrast, Ethereum-based tokens leverage the ERC-20 standard. So if you are working with Ethereum NFTs, you would need to find out if the bug bounty solution providers have found vulnerabilities specifically in ERC-721 tokens.
Top Customers
Bug bounty solutions can have all sorts of customers.However, it’s the crucial ones that provoke thoughts such as:
Well, if they chose them, it must have been a good decision.Would they ..
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