Polkadot encourages its community to fight scams through an “anti-scam bounty”


Polkadot, a protocol that connects blockchains, has announced its latest initiative to help its ecosystem fight scams.

According to the company, relying on security-conscious individuals within the community to combat scams has proven to be an effective method of protecting the ecosystem. To encourage community members to keep doing the job, Polkadot consistently rewards them with bounties in USDC.

Polkadot said the bounty is currently being managed by the general trustees, which currently consist of three members of the community and two people from the W3F Anti-Scam Department. In the long run, however, Polkadot hopes that the bounty will eventually be managed exclusively by the community.

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

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Overall, the initiative encourages participating members to come up with ideas to expand anti-scam activities to other areas. By decentralizing their anti-scam efforts, the Web3 Foundation and Parity have shifted their decision-making process to the community.

Related: Polkadot co-founder Gavin Wood steps down as CEO of Parity

Polkadot seems to be taking the necessary steps to grow and strengthen its ecosystem. On October 17, TSTIME reported that Polkadot reached an all-time high in development activity. Project developers reported that 66 blockchains are now live on Polkadot and its parachain startup network Kusama.

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Since its inception, more than 140,000 messages have been exchanged between chains through 135 message channels. Together, the Polkadot and Kusama Treasuries have cumulatively disbursed DOT 9.6 million and KSM 346,700 ($72.8 million in total) to fund spending proposals in the ecosystem.