The Ethereum Foundation is putting serious money on the table to protect its future. They’ve announced a major security contest, offering up to $2 million to anyone who can find flaws in their upcoming “Fusaka” network update. This move highlights their focus on ensuring the blockchain stays safe and reliable.
This security push comes as Ethereum gears up for its next big upgrade. Fusaka is the planned follow-up to Pectra, which rolled out in May. The Foundation wants every stone unturned. They’ve invited security experts to check Fusaka’s code for any bugs or weak spots before it goes live on the main network, expected late in 2025.
A $2 Million Challenge to Find Bugs
The contest started on September 15th and will run until October 13th. Sherlock, a well-known security platform, is running the show. Financial support comes from Gnosis, chipping in $100,000, and Lido, adding $25,000. It’s a team effort to strengthen Ethereum’s defenses.
The goal is straightforward: find security holes in Fusaka’s code. Valid findings will become part of an official report. To really get people digging, the Foundation is offering bonus points. If you find and report issues in the first week, your points double. In the second week, you get a 1.5x multiplier. The Ethereum Foundation even put out a guide for auditors to help them along. Once the contest wraps up, the top researchers will get recognition, and all findings will be reviewed.
Fusaka: Boosting Ethereum’s Backbone
Fusaka is more than just a name; it’s a big step for the Ethereum network. It includes about a dozen technical improvements, called EIPs. These changes aim to make the network stronger, handle more traffic, and speed up transactions.
One key feature in Fusaka is called “Peer Data Availability Sampling.” This system spreads out data checks among many network nodes. This helps “rollups,” which are solutions designed to process more transactions at a lower cost.
This new update follows Pectra, which brought its own set of important changes. Pectra made it simpler for big organizations to “stake” (participate in validating transactions). It also made digital wallets easier to use and boosted transaction efficiency. Fusaka keeps this work going, with a strong focus on security and network power.
Ethereum is a blockchain network that powers decentralized applications, smart contracts, and DeFi (decentralized finance) platforms. Because of this, updates like Fusaka are vital. Any coding mistake could cause big problems. That’s why this contest is so important — it’s all about locking down security before launch.
Working Together to Protect Ethereum
The Fusaka security contest stands out because of its teamwork approach, with Gnosis and Lido pitching in. Sherlock, the platform hosting the event, has been a leader in smart contract security since 2021. They previously helped audit the Pectra update in 2024. Sherlock is known for running these types of contests and bug bounty programs that protect critical blockchain systems.
This contest proves Ethereum’s deep commitment to safety. It ensures Fusaka will be ready for its 2025 rollout. It’s a real chance for security experts to contribute and help keep Ethereum’s future secure.
Beyond this competition, the Ethereum Foundation runs an ongoing “Bug Bounty” program. This program pays up to $250,000 for discovering wider protocol issues. It shows their continuous dedication to network security.
Sources:
Ethereum Foundation official blog post