Cardano’s Lace Wallet Challenges Hackers with a Million-Dollar Bounty at Rare Evo 2024″

At the recent Rare Evo 2024 event, Charles Hoskinson announced a bold security challenge with a prize of one million USDM for anyone capable of hacking the Lace Paper Wallet. A video posted on X publicized the challenge, accompanied by a tweet that read, “If you can hack it, you can keep it. A million dollars.” This invitation calls on the ADA community to test the security of the Lace Paper Wallet, ultimately contributing to the platform’s robustness.

In a significant development, Cardano’s Web3 Lace Wallet introduced a groundbreaking security feature: the Paper Wallet. This new feature simplifies Lace’s security by allowing users with existing PGP keys to restore their wallets using a single encrypted QR code. Emphasizing its commitment to security, Lace’s addition of the Paper Wallet feature marks an important milestone. To celebrate this achievement, Lace launched a Paper Wallet Bug Bounty Program to prove the platform’s security.

The Bug Bounty Program challenges the ADA community to hack the Lace Paper Wallet and seize control of the commemorative NFT stored within it. This initiative offers the community a chance to test and enhance the Lace Wallet’s security. The Bug Bounty Program will remain open until the end of 2024, or until someone successfully hacks the wallet.

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The event also highlighted Hydra’s impressive capabilities on Cardano. During Rare Evo 2024, the powerful performance of Hydra was demonstrated by processing every frame of the classic game Doom as a transaction. This demonstration showcases the potential of blockchain technology when applied to real-time applications, hinting at a future where secure, high-throughput transactions become the backbone of industries like finance and supply chain management.

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