The concept of the bounty program appears from time to time in projects such as the Initial Coin Offering (ICO). Contrary to what it looks like, it has nothing to do with coconut chocolate content.

Geneza bounty online

The term “bounty” is known as a reward for completing a task or activity and has also been carried over to online platforms. In the digital world, Bounty first appeared on gaming platforms that offered rewards to users who participated in game development. In other words, a bounty can be described as a deal in which the subscriber offers a service and receives a reward as compensation.

Bounty w cryptowalucie

Just like in the gaming world, the bounty has found its way into the cryptocurrency ecosystem and the concept has popped up in many ICO projects. This is to examine a number of tasks that the development team may not be able to handle. Many cryptocurrency startups use bounty as a means of bug testing, for marketing strategies, or to look for ways to improve a project’s infrastructure.

There are certain occasions when a company can use the bounty without considering the ICO, such as: B. when trying to get important information. Earlier this year, Binance, one of the world’s leading trading exchanges, offered $ 250,000 as a reward for arresting hackers involved in fraudulent transactions

. However, it is more common for bounty programs to be offered before an ICO opens or after an ICO is closed. newsletter_signup id = “1” align = “full”]

Pre-ICO bounty programs

There are many different types of activities that can be offered as a bounty, but common types of pre-ICOs include activities such as:

Bitcointalk Signature Bounty

This bounty will be offered to the youngest members of the Bitcoin Alk forum, in this activity the project will execute a signature embedded in code and participants who post their signature will line up to win prizes from the project. The ranking of the participant plays a big role in the amount of the prize.

Social media campaign programs

As the name suggests, this type of reward includes activities that are used to promote the project through social media platforms. For example, the participant can be expected to promote the project on their social media account, e.g. via Twitter retweets, Facebook shares or Instagram likes. Rewards can be offered depending on how much engagement the participant shows or how far the contribution goes.

Rewards for writing articles

Participants who have significant followers on their blogs may be eligible for some type of assignment of posting articles about the project. As with social media campaigns, the rewards are most likely based on the impressions or the reach of the article.

Programmy Post-ICO Bounty

As with the pre-ICO programs, there are many different activities on offer. The most common tasks are:

Report an error

It is offered with the intention of weeding out any errors in the technical development of the project. Participants are rewarded for finding and reporting bugs that may occur on the project platform.

John McAfee of the anti-virus company McAfee used this reward program in his “unhackable” wallet.

Translation campaigns

In this activity the participants translate some project-related texts into different languages. Multilingual participants can receive awards for the translation of relevant project documents or for their work as translators in online forums. Most of the texts that are often translated in bounty programs are texts on the company’s website or in a project’s whitepaper.

The Post-Czym-Jest-Program-Bounty-ICO? first appeared on Coin Insider.