Swisstronik Releases Testnet 1.0 and Introduces Bug Bounty Initiative
Swisstronik, a layer-1 network with a focus on legal compliance, data privacy, and interoperability, has announced its testnet 1.0 along with a $70,000 bug bounty program, as stated in a recent press release.
The primary objective of Swisstronik is to promote the real-world adoption of blockchain technology by providing a reliable, user-friendly, and secure network that addresses the challenges related to legal compliance, data privacy, and interoperability without necessitating legal consultation. The testnet empowers developers to create applications with robust encryption and enterprise-grade transaction security, while prioritizing privacy.
Swisstronik has initiated its first Bug Bounty campaign, offering a reward fund of $70,000 to individuals who can identify critical bugs in the project. This campaign will be active until September 15, 2023, during which any identified bugs will be promptly addressed before the launch of Swisstronik Testnet 2.0 in the autumn.
Swisstronik's Testnet 1.0 is fully compatible with the Ethereum Virtual Machine (EVM) standard, enabling developers to seamlessly migrate Ethereum-based dApps and smart contracts to its ecosystem. In future versions, Swisstronik plans to implement the Inter-Blockchain Communication (IBC) protocol, further enhancing interoperability among Cosmos-based blockchains.
Swisstronik is also inviting users to take part in Swisstronik's Zealy Quests, where participants can earn Experience Points (XPs) and have the chance to be rewarded from a $200 prize pool. Each week, the top five participants based on XPs will be celebrated, and their names will be announced on the platform's official social media.
Swisstronik's mission is to build a scalable layer-1 network that effectively addresses the challenges of legal compliance, data privacy, and interoperability, thereby driving widespread adoption of blockchain technology in real-world scenarios. The platform aims to become the preferred solution for developers seeking to build compliant, privacy-preserving dApps, as well as cryptocurrency users who prioritize data protection and transaction confidentiality.
Swisstronik provides a platform that allows anyone to build compliant yet private dApps without the need for specialized legal expertise. This is achieved through a unique combination of functionalities, including the Web3 Compliance Suite, which creates a self-regulating network involving international regulators, KYC issuers, and legal service providers.
Additionally, Swisstronik employs programmable, hardware-based protection technology based on Intel SGX, along with cryptographic techniques based on zero-knowledge proofs.
