Creditcoin releases public testnet with participation rewards and bug bounties

Layer-1 blockchain Creditcoin has released an incentivized public testnet of its Creditcoin 2.0+ upgrade. The testnet is enhanced with participation rewards and bug bounties. Interested parties can join the testnet as validators or nominators and earn substantial rewards for participating.

Creditcoin 2.0+, which is an upgrade of the world’s leading Real World Asset (RWA) credit network Creditcoin, is seeking to transition from Proof-of-Work to Nominated-Proof-of-Stake (NPoS). The testnet phase will allow for stress-testing of the network and ironing out any potential issues before the full mainnet launch.

Creditcoin 2.0+ testnet bug bounties

In addition to receiving a sizeable head start on mainnet Creditcoin 2.0+, participants can earn a portion of a reward pot worth up to 400,000 CTC mainnet tokens. In addition, there are bug bounties of up to $1,000 depending on the severity of each bug found and reported.

Participants can participate in network staking on the Creditcoin 2.0+ testnet by running a node and validating blocks as a validator or by supporting validators who are trustworthy.

Each role has its own set of benefits, with Validators receiving up to 2,000 CTC mainnet tokens and Nominators receiving up to 100 CTC mainnet tokens. The more they contribute, the more compensation they earn.

Participating in the testnet

Participants should have a Polkadot.js wallet to participate in the Creditcoin 2+ testnet.

To get started, parties will be required to create an account on the Creditcoin Community Forums, chose their role, and familiarize themselves with the staking procedure by reading the pertinent Validators and Nominators documentation.

Once the wallet is ready, one can request the testnet tokens. A total of 15,000 testnet CTC tokens will be given to validators, while 1,000 testnet CTC tokens will be given to nominees. The testnet tokens have no use outside of the testnet itself.

Nominators can submit their bug reports through a form, while validators can submit their bug reports through Huntr.dev. Every reported bug stands a chance to earn rewards. Minor bugs fetch $10-$99, medium bugs fetch $100-$499, and major bugs fetch $500-$1,000.

The post Creditcoin releases public testnet with participation rewards and bug bounties appeared first on Invezz.