LayerZero Starts Distributing Rewards to Sybil Bounty Hunters

Bittime - LayerZero begins distributing rewards to Sybil Bounty Hunters. This blockchain company will distribute rewards to sybil hunters on July 25 2024 or today.

One of the problems in the blockchain world is Sybil attacks, where irresponsible individuals create many fake accounts for personal gain. LayerZero, a giant in the field of blockchain interoperability, has just taken decisive steps to address this.

The Beginning of the Sybil Hunt by LayerZero

LayerZero plans to hold a ZRO token airdrop in December 2023. However, they are concerned about the potential for fraud through creating fictitious accounts. 

LayerZero Labs CEO, Bryan Pellegrino, strictly prohibited his employees from taking part in the airdrop. He even stated that violations would result in dismissal.

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It doesn't stop there, LayerZero collaborates with Chaos Labs (risk management platform) and Nansen (blockchain analytics firm) to investigate potential Sybil actors. Initially, more than 2 million addresses were identified as suspicious. 

But after a thorough review, that number shrunk to 803,093 addresses. LayerZero ensures they only focus on real threats.

Timetable Sybil Bounty Hunting Prize Distribution

After the initial stage of the self-reporting program, LayerZero launched the "Sybil Bounty Hunting" program on May 18. This program invites the community to participate in identifying Sybil accounts and get prizes. 

Participants are required to report a minimum of 20 addresses with a transparent methodology. The reward? 10% of the token allocation that should be received by the Sybil account.

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The final list of Sybil hunters eligible to receive the prize has now been published on Commonwealth.im, a platform known for its transparency in the blockchain space. 

Prize distribution is scheduled to take place on July 25, 2024 at 13:00 UTC. This means that hunters will soon receive compensation directly to their respective wallets.

LayerZero is done A Role Model for the Blockchain Industry

LayerZero's proactive action in dealing with Sybil attacks deserves thumbs up. They don't just protect the integrity of the airdrop. 

However, LayerZero also shows that community involvement can be a powerful weapon in maintaining blockchain security. This is a good example for players in the blockchain industry to always prioritize security and transparency.

How to Buy LayerZero (ZRO) on Bittime

You can buy and sell LayerZero (ZRO) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

LayerZero (ZRO) available on Bittime with market pair ZRO/IDR. To be able to buy ZRO IDR Of Bittime Make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete guide on how to buy LayerZero (ZRO) on Bittime. 

Monitor graphic movement price LayerZero (ZRO), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.