Ethereum Rival Polkadot (DOT) Rolls Out New Anti-Scam Initiative for Ecosystem

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.”

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