BTC Relay included in Ethereum Bounty Program

Following hacking @ DEVCON1,  Martin Swende is Nr. 1 on the leaderboard of the Ethereum Bounty Program. The bounty program is ongoing and the last bounty awarded amounted to five BTC. This system is open to anybody. With BTC Relay preparing for launch on Ethereum and its significance for a lot of DApps, we need to spotlight its ongoing safety audit by together with it in the Ethereum Bounty Program.

BTC Relay is an Ethereum contract that implements Bitcoin SPV:

The chief goal of BTC Relay is to go alongside any sufficiently confirmed Bitcoin transaction, to a specified Ethereum contract. If somebody makes a Bitcoin cost, or any arbitrary transaction on the canonical Bitcoin blockchain, the relay ought to be capable to ship it to any specified Ethereum contract. More details in the spec.

The purpose is to determine safety points reminiscent of accepting invalid blockheaders, false proofs, or invalid Bitcoin transactions. Equally, if there’s a legitimate Bitcoin transaction which BTC Relay doesn’t absolutely relay, that may even be eligible for bounties.

Please observe that since BTC Relay has a separate open-source grant for bounties, main bugs can be rewarded as much as 1 BTC.  A lot larger rewards are attainable (as much as 5 BTC) in case of very extreme vulnerabilities. Rewards are eligible for everybody besides bounty program judges and builders of BTC Relay.

The scope is on the contract, the 5 “.se” information in the foundation listing of:

(It is a commit on develop department).

Not in scope is full SPV consumer performance (for instance Bitcoin block timestamps will not be checked to avoid wasting fuel prices). Higher mechanisms for incentivization, fuel price and different algorithm optimization will not be in scope. That mentioned, any such suggestions will nonetheless be gladly thought of.

With BTC Relay now included in the Ethereum bounty program, a lot of the guidelines on apply. For examples, web sites will not be a part of the bounty program and first come, first serve — points which have already been submitted by one other consumer or are already known to the group will not be eligible for bounty rewards. However, this additionally implies that past financial rewards, each bounty can be eligible for:

  • Itemizing on the the Ethereum bounty leaderboard with factors accumulating over the course of this system.
  • Private inscription in the Ethereum namereg as soon as it is reside.
  • An unique, restricted version Ethereum Bountyhunter t-shirt

In the event you’d like to affix the channel for BTC Relay, it’s open to all at  The bounty program will run for a number of weeks earlier than launching BTC Relay to Frontier.  Listed below are some gadgets to debate with the neighborhood and open questions for the Frontier launch:

  • what must be the primary block in BTC Relay?

    • for technical and sensible causes, the earliest block that may be saved in BTC Relay is block 2016 (first problem retarget).  BTC Relay’s first block should be on a problem retarget, ie a block divisible by 2016.

  • how seemingly are you to confirm Bitcoin transactions from some time in the past?
  • how helpful would it not be if BTC Relay began with the block two problem retargets in the past?

    • presently, that may be block 389088

  • there’s a script that anybody can run to submit block headers to BTC Relay and what do you suppose its default payment, which verifiers of a Bitcoin transaction pay in ETH, must be?

    • script’s current fee is 0
    • it often prices lower than 0.01 ETH to submit a block header.  ought to the default payment be 0.01 ETH?
    • this default payment may be overridden to no matter submitter wishes, though the inducement mechanism makes it in order that setting the payment excessively is unlikely to be rewarding

Lastly, the BTC Relay Bounty Program was added in “news & updates” to a few weeks in the past, and has already attracted 1 bounty submission!

DailyBlockchain.News Admin

Our Mission is to bridge the knowledge gap and foster an informed blockchain community by presenting clear, concise, and reliable information every single day. Join us on this exciting journey into the future of finance, technology, and beyond. Whether you’re a blockchain novice or an enthusiast, is here for you.
Back to top button