Home Press Release Hack the DAO: Blockchain Startup Daox to Announce a $100K Hacking Contest

Hack the DAO: Blockchain Startup Daox to Announce a $100K Hacking Contest

June 20, 2018 13:30

This is a press release. Crypto-News India urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

Daox, a blockchain startup that is developing a platform and ecosystem for ICOs based on the concept of a decentralized autonomous organization, has announced the $100k hacking
contest to prove that their DAOs are safe.

According to the rules, participants should either find a way to completely freeze or steal the funds that reside on a DAO’s Ethereum smart contract. The first person to complete the
objective would be unconditionally rewarded with a $100k prize in bitcoins and get an offer to join their team.

The safety of funds is probably the most important concern for those projects that are going to fundraise via cryptocurrencies, especially after the latest Parity incident when Ether turned
out to be completely stuck in the Ethereum smart contract.

On top of that, the credibility of a DAO concept suffered a negative impact after the famous “TheDAO” hack when the attacker managed to steal a vast amount of Ether, which consequently led to the hard fork in the Ethereum network.

Daox Project will obviously need to put a lot of effort to make their users feel safe, and this contest might be considered as a good start for that.

More information at https://daox.org/contest/

Website:
https://daox.org/
Contest page: https://www.daox.org/contest/
Contest Cover:
https://daox.org/press/daox_contest_cover.jpg
Press Kit (Daox logos): https://daox.org/Daox-Press-Kit.zip

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