It’s not the first time that hackers have been invited by tech firms to attack their networks for examining the durability of security architecture in exchange for a monetary prize. It is indeed a great way to navigate the loopholes and gaps so that necessary changes can be incorporated. Elrond, a blockchain firm also did the same when it sent the invites to the hackers for its stress-testing event labeled as ‘Battle of Nodes: Onchained’ for checking the robustness of its ERD ecosystem and blockchain technology network.
The CEO of Elrond, Benjamin Mincu, earlier said-
“Battle of Nodes: Onchained is the final and most important step before the Elrond mainnet. Through it, we will demonstrate a robust and performant network leading to the launch. This is a remarkable milestone, and once 15 days have passed where the network runs without interruptions in a high TPS environment, we will know Elrond is ready to go live.”
The objective of the event
Three prime objectives of this event have been stated by the management of the Elrond as follows:
- To diagnose the detrimental bugs and implement necessary actions to fix them.
- To understand the potential threat elements and mollifying them.
- To assemble the node operators for a seamless launch.
If we analyze these above points, then it is clear that even a robust technology like Blockchain is vulnerable to threats. Although one thing is for sure that these efforts, in the light of competition can help to innovate the systems for a better build. The rewards are pretty amazing as the total prize pool is worth a whopping $40,000.
Activities and task
Various tasks and activities have been outlined in such a way so that the competitive environment can prevail and the objectives can be successfully met. Some of the tasks are hijacking, stealing coins, minting new coins, double spending, etc. The participants with top positions on the leaderboards can secure maximum rewards. This is not the first time when Elrond has conducted a stress test with such activities. The previous year’s version of the ‘Battle of Nodes’ also observed similar tasks with the prize pool worth $75,000.
The benefits from the event
This event is beneficial for not only Elrond but for the participants as well. They will gain international exposure and advanced learning from the competition. Investigation of the blockchain networks under intense environment upgrades the skills also. This event is a great platform for learning about IT security, bugs, advanced testing, and of course- blockchain.
However, the company can use the results from stress-testing to exercise the expansion of operations and business scope. Having secure, responsive, and fast systems are one of the ways to experience growth and Elrond has certainly found a great way to do it. The reliability of Blockchain cannot be questioned, but these stress tests push the technology to further limit. The observations and data from the competition can help to redesign and modify the existing network and security structure to build solid credibility. It is expected that more stress tests might be conducted by other corporations that make use of blockchain technology because the results from such kinds of competition can help a lot to make informed and practical decisions.