Polkadot (DOT) incentivizes its community to fight scams through an “anti-scam bounty”

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Polkadot Incentivizes Its Community To Fight Scams Through An “Anti-Scam Bounty”

Polkadot (), a protocol that connects blockchains tech, has announced its latest initiative to assist its ecosystem fight

As reported by the company, relying on security-minded within its community to fight scams has proven to be an effective of safeguarding its ecosystem. To incentivize the of its community continuation to do the work, Polkadot (DOT) consistently bonus them with bounties paid in USDC. 

Polkadot (DOT) shared that its bounty is at present managed by the general curators, which for now, consists of 3 community members, and two people from the W3F Anti-Scam department. Nonetheless, in the longstanding, Polkadot (DOT) hopes that the bounty will be eventually  managed exclusively by the community. 

As part of the community-led anti-scam initiative, community members are tasked with finding and taking down scam sites, media profiles, and phishing apps, likewise as protecting its from raids. In addition, the community will create educational materials for users likewise as an Anti-Scam Dashboard to act as the central hub for all anti-scam activities in its ecosystem.

Overall, the initiative encourages taking part  members to come up with ideas for expanding anti-scam activities to other areas. By decentralizing its anti-scam efforts, the Web 3.0 Foundation and Parity have shifted their decision-making to the community. 

Polkadot (DOT) appears to be making the necessary strides to grow and strengthen its ecosystem. On Oct 17, Cointelegraph reported that Polkadot (DOT) hit an all-time high in development activity. Project developers reported that 66 blockchains tech are now live on Polkadot (DOT) and its startup Kusama.

Since its inception, over 140,000 messages have been exchanged in the middle of chains via 135 messaging channels. Together, the Polkadot (DOT) and Kusama treasuries have cumulatively paid out 9.6 Million Polkadot (DOT) and 346,700 KSM ($72.8 Million total) to fund proposals in the ecosystem.

Continue reading on Cointelegraph.com


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