Case Study: The NEAR Protocol and HackenProof Partnership

Andrii Stepanov
Marketing Manager
2 Minutes Read

Introduction

In the dynamic realm of blockchain technology, ensuring the security and integrity of digital infrastructure is paramount. NEAR Protocol, a pioneering layer 1 blockchain leveraging sharding technology for unmatched scalability, exemplifies a forward-thinking entity committed to securing its ecosystem. This case study delves into NEAR Protocol’s strategic partnership with HackenProof, a leading web3 bug bounty platform, highlighting the innovative approaches to enhancing security, the challenges encountered, and the tangible outcomes of this collaboration.

Challenges and Objectives

As NEAR Protocol accelerated its development to fulfill its mission—enabling builders to create apps that cater to billions across all blockchains—the necessity for an impenetrable security framework became evident. The primary challenge was establishing a proactive security posture to safeguard against potential vulnerabilities, a critical step for maintaining trust and functionality in the decentralized landscape.

Strategic Approach

In response to these challenges, NEAR Protocol embraced the collaborative security model offered by HackenProof. This partnership was anchored on leveraging HackenProof’s expansive network of Rust experts, tapping into a specialized community adept at identifying and mitigating vulnerabilities in NEAR’s unique environment. The multifaceted bug bounty programs—catering to web interfaces, smart contracts, and the blockchain itself—were meticulously structured to streamline report management and foster efficient coordination between NEAR’s developer teams and the bug hunter community.

Outcomes

The collaboration yielded remarkable results:

  • NEAR Protocol has invested nearly $2.5 million in bug bounties, underscoring its commitment to security.
  • Of the 326 reports submitted with 79 of these identified as valid vulnerabilities.
  • A noteworthy milestone was the awarding of a $1 million bounty for a singular, critical vulnerability, highlighting the program’s impact on ensuring robust security measures.

Customer Insights

A testament to the program’s success is the feedback from NEAR’s community.

“Our collaboration with HackenProof has markedly improved our security, thanks to their intuitive platform and proactive approach to identifying vulnerabilities. Their exceptional support and expertise have made this partnership invaluable.”

The Near Security Team

Conclusion

The NEAR Protocol and HackenProof collaboration illustrates the power of community-driven security in the blockchain domain. By embracing the expertise of the HackenProof community, NEAR has fortified its infrastructure against threats, paving the way for safe, scalable blockchain applications.

Your Next Steps

Are you ready to elevate your blockchain platform’s security?

We encourage you to connect with us. Explore how our tailored bug bounty programs can safeguard your projects, and join us in shaping the future of secure blockchain technology. Together, let’s build a safer digital world.

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