SEOUL, South Korea, Sept. 13, 2018 /PRNewswire/ -- Korea's first blockchain project BOScoin (www.boscoin.io,CEO: Yezune Choi, Company name: Blockchain OS) announced that it entered into a memorandum of understanding (MOU) with the Korea Internet & Security Agency (KISA) to run a software vulnerability reward program together.
Since establishing the ARIST (Advanced Research Institute for Social Trust) in May to verify platform reliability, scalability, and privacy on its mainnet from an engineering perspective and releasing the source code of its TestNet to the public in June, BOScoin has been polishing up the mainnet by collecting feedback from the developer community. The MOU with the KISA will allow BOScoin to apply feedback from a broader range of white hackers across different dimensions and speed up the development and verification process of the mainnet.
The joint software vulnerability reward program with the KISA will reward individuals for reporting software vulnerabilities. It will help BOScoin create a safer cyber environment where identified vulnerabilities that can be exploited by hackers are patched or remediated in advance. In other countries, the similar system is in place under the name of a bug bounty program. In Korea, the KISA launched a bug bounty program in 2006 and has been running it jointly with other enterprises since 2014. Any Korean individuals who live inside or outside the country can participate in the reward program via the KISA website. The maximum reward for reporting bugs is 10 million won.
"BOScoin is focusing our full attention on increasing technical completeness of the mainnet," said BOScoin CEO Yezune Choi. "The internal verification through the ARIST as well as experts' verification through the community feedback and the broad verification through white hackers will help us identify and remediate any vulnerabilities in the mainnet, making it safer."
Korea's first blockchain project BOScoin was launched by BlockchainOS in May 2017 through an ICO. Five hundred million BOScoins were first released, and the ICO of BOScoin reached 15.7 billion won hardcap within 9 minutes from the start. Approximately 60 billion won worth fundraising was completed within 17 hours. BOScoin opened its testnet source in June and prepares to open its mainnet based on its own technology at the end of this year. It is seeking partners who pursue to build an innovative business model by grafting blockchain technology onto their industry on the BOScoin platform, pushing ahead with the creation of BOScoin ecosystem.