Dash decided to employ a team of white hat hackers to hack its Blockchain and expose vulnerabilities deliberately.
The privacy-focused altcoin said that crowdsourced cybersecurity service Bugcrowd would work to ensure every aspect of its operations was watertight.
“Meaningful amounts of cash attract a powerful incentive for thieves on a global scale. The Dash project is like building a bank vault, and inviting elite bank robbers to participate in its design, so it can’t be robbed by other criminals” Jim Bursch, who created Bugcrowd’s proposal for Dash said.
Dash has so far been notable for its lack of weaknesses against recent high-profile thefts such as that at Ethereum’s Parity last month.
The altcoin has managed to stabilize between $150 and $200 per token for an extended period, with the huge amounts of cash gained by its team during its rapid price rise to be deployed over projects spanning several years.
With money no object, the security checks will take the form of a ‘bug bounty’ where 60,000 “invite-only” hackers will receive incentives to determine and report the slightest problem.
“As Dash gains more mainstream attention, identifying and fixing vulnerabilities is absolutely imperative. Bug bounty programs attract fresh eyes to review code which ensures white-hat hackers help identify any security flaws,” Dash Core CEO Ryan Taylor added.
The white hat activities will start later this month.