Cardano Founder Launches $1 Million Challenge to ADA Community: Details

Cardano founder Charles Hoskinson has announced a $1 million challenge to the ADA community.

At the recent Rare Evo 2024, Hoskinson revealed a 1 million USDM bounty available for anyone who could hack a Lace Paper Wallet.

The Cardano founder shared a clip on X announcing the challenge and a tweet that read, “If you can hack it, you can keep it.” “One million dollars.” The challenge invites members of the ADA community to attempt to hack the Lace Paper Wallet and thus contribute to securing the platform.

If you can hack it; You can keep it! 1 million dollars! https://t.co/TTtHocHHbs

— Charles Hoskinson (@IOHK_Charles) August 17, 2024

In a significant milestone, Cardano Web3 wallet Lace has introduced a completely new security feature: the Paper Wallet feature, which makes Lace even easier to protect — users with existing PGP keys can now restore their wallet with a single encrypted QR code.

Lace emphasizes its focus on security, and the addition of the new Paper Wallet feature represents a significant move in this regard. To mark this milestone, Lace has launched the Lace Paper Wallet Bug Bounty Program to prove Lace’s security.

The bug bounty program challenges the ADA community to hack and gain control of the Lace Paper Wallet (and the commemorative NFT within that Paper Wallet), affording the community the chance to test and improve the Lace Wallet.

The Lace Paper Wallet Bug Bounty Program will stay open until the end of 2024 — or until someone hacks it.

Hydra makes big leap

Cardano scaling solution Hydra stole the show at the recent Rare Evo 2024 event. At the event, the powerful scale of Hydra on Cardano was demonstrated by transmitting every frame of the classic game Doom as its transaction. This move represents a powerful demonstration of what is possible when blockchain meets real-time applications.

This demo scratches the surface of Hydra’s capabilities with every movement on the Doom game, a transaction signed on the Cardano blockchain.

While Hydra is not just about gaming, the demo might glimpse a future where secure, high-throughput transactions become the backbone of industries like finance and supply chain.

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