Crypto White Hackers.

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Hello guys, welcome back to this space, I hope y'all are keeping well. It a sunny afternoon over here, I do not know what time of the day it is over there, anyways Good day... smiles. So today I've got something interesting to share with you once again...by the way, hope you got value from my last post, I want to believe your response is "yes"...smiles.

Today we would be looking at the topic Crypto White Hackers, it's quite an interesting one and of course the reason for sharing all of this is just to equip us with knowledge as to how this terrain works, kindly sit back and enjoy every bit of what I've got to share.

Introduction

It's no more news that we have different kind of player in the market especially those who are looking to exploit, manipulate and steal from the market by using some sophisticated tools coupled with their technical know-how on how the Blockchain space works.

To narrow down my discussion, am actually talking about hackers. These are some individual(s) who are bent on taking advantage of every and any loose end or loop hole they spot in this space. However we have different types of hacker...well this is just a discovery i just stumbled upon, that is why it important to alwsy go for knowledge.

We have the white hacker and of course we have the black, the ones we know so well, going about stealing from the system and then finally the gray hackers. My emphasis today is on the white hacker. After knowing who they are and what they represent, you will be able to tell who a black hacker is.

Who is a white Hacker

We need to first understand who an hacker is before defining who a white hacker is. An Hacker is one who has an indepth knowledge as to how a system work and on the strength of such knowledge he aims to breach a system with his knowledge for his own selfish interest or on request.

We have different types of hacker but I will like to highlight just two even though my studies covers three of them namely the white, the black and the gray hacker. Let's touch now on the white hacker. Who are they and what is their contribution to the crypto and Blockchain space.

Unlike hacker who breach into system for their selfish gains, white hackers are those who rather works for the benefit of the system, they are not there to exploit, they are there to help fix the system. You can refer to them as Ethical Hackers. Their purpose is to expose any loop hole in a system before the black hacker who are the dubious one get to see these loop holes and exploit them.

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Sometimes big firms contact these white hackers with their pseudonymous identity because of course their identity are always hidden for security reasons. Now these firms contact them to come help them run a check on their system to see if it's completely secured or can be breached.

They call this act, Bug bounty. They put out this challenge to any hacker who can spot any loophole or vulnerable area of their system and of course if any is found, they would be rewarded handsomely for their effort. Hence the bounty attached to the challenge

Their contribution to the crypto industry

White hacker makes the system safe and secure for all and sundry. They understand that there is so much money at stake when a security system has been successfully breached, so they stand in gap to ensure that users are protected.

They also ensure they deal with all manner of threat in the crypto market by conducting tests like stress test that aims to actually discover malicious plug-in, softwares and other subtle threats. Sometime they go as far as launching an attack to check the security setup of the system. Such attack include the popular DDoS attack just to ensure safety across the system.

It would interest you to know that white hacker are indeed doing a good job, they use the same method adopted by the black hat hacker (Malicious hacker) but then their intent is not to defraud but to discover loops holes that these black hats could exploit, there by profering solution for their findings.

Record has it that a white hat hacker was once paid $6M for discovering a vulnerable part of Aurora, built on the Near protocol. What he saved them from in total was to the tune of N200M loss if that vulnerable part is discover and exploited by the black hats hacker. Hence the bounty pride of 6M to the white hacker who discovered it.

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Record also has it that wormhole also paid a white hacker a bounty of 10M for discovering a bug on their system. It could have cost them a very high loss if not discovered by these ethical hackers who worked on their system upon on their consent.

Bottom Line

I believe by now we know who a white hacker is and most especially, their contribution to the crypto and blockchain space. Need I also explain who a black hat hacker is, I believe you have been able to decode that even from the write up. They are the direct opposition of the white hackers, they operate in the opposite direction even though both party use the same method in penetrating a system.

I trust you've gotten so much from this piece. As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.

Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!

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^{Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.}

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Regards
@lhorgic♥️

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