The team behind Polkadot (DOT), an interoperable blockchain project, says it is working to make the ecosystem safer for users through its anti-fraud initiative.
According to DOT’s developer, the Web3 Foundation, it initially partnered with security companies to stop the spread of fraud, but the effort ultimately saw it involve community members participating in the fight against fraud. developed into
This gives us a clear path forward. We bring these security-minded individuals together and reward them in a consistent way to protect our community. In other words, the community protects itself. To do.”
anti-fraud bounty give incentives A community for tasks such as detecting and removing fraudulent sites, fake social media profiles, and phishing apps. Create educational materials for users and protect the project’s Discord server from raids.
To date, the bounty has rewarded 16,000 DOT, equivalent to $84,640 at the altcoin’s current price of $5.29.
According to Polkadot, the initiative has proven effective in protecting the ecosystem and now relies solely on the community to find and respond to fraudulent sites. However, we continue to work with online brand protection company Allure Security to combat fraudulent social media accounts and rogue apps.
In the future, our goal is to leave all aspects of online fraud prevention to the community alone. We also welcome companies in the field who want to participate in this prize and contribute their expertise.
Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Asukanda