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Balvinder Singh
Balvinder Singh

Posted on • Originally published at tekraze.com

How Bounty Hunting changed from Web2 to Web3

With the change in cryptos and decentralization everywhere the industry is moving from Web2 to Web3.

Examples such as

  • AWS to AkashNet
  • Digital Ocean, S3 to Filebase, Skynet
  • Social Logins to Crypto Logins with Metamask and similar wallets
  • Normal Domains to Handshake Domains
  • Expressvpn to DVPN

We now have almost every option for web3 similar to web2 if one wants to migrate his data and use the web3 tools. But what has changed with this?

Decentralization and Open Source Contribution with web3

So, if we talk AWS we talk amazon as a web2 company providing services as one identity, whereas Akash is a web3 company providing services from community-run hosting which goes from centralized to decentralized.

This decentralization is working faster and more people are adopting, but one problem here that the new web3 company face.

What do you wonder?

Well the main backbone for any software, the developers. So, with the big companies like Google, Amazon they have a fund with which they can buy thousands of employees in a day and build a product. The bounties work when someone finds a bug and reports it, but not all fixes may be approved as it is hard to convince a company of an issue.

But for web3 companies, mostly are startups with a team starting from one dev to 2 dev or more, mostly under 10 persons as a team. So, the work done may be slow as the hiring does not even make sense, even if it did, the pocket does not allow it. With pocket, I seriously mean the budgets, as startups do start with minimal or no capital at all.

So, how does web3 manage the development with a small team?

What do you wonder again ?

Most of the development work comes from the open-source community who are either using the product or involved as running validators or witness nodes, or just web3 enthusiasts.

These contributions are compensated by the company using either a future stake promise or by giving the tokens which are very early with no values and can be worth more in the future.

For example, if a web3 company creates some X token for his company and gives 10$ worth of tokens to the dev, 10k tokens each. If in the future 1 token goes to 50 cents then the dev will be holding tokens worth 5K. Sounds interesting, yes, this is the power of tokens. People in the cosmos may agree with this as they witnessed this potential.

But the question here is how one can get these compensations or in other words, a bounty as some people term it. There are some ways

  • Going to Git Repo
  • Company Website
  • Discord Channel
  • Discourse Forum
  • Reddit
  • Stackoverflow

and 100 other Forums

But there is no guarantee, you will

  • first of all, find a bounty,
  • second, you will be able to complete the bounty,
  • third and last, you will be compensated for the bounty you solved and one thing we missed, how you connect with them in case you picked from git and done.

to, all these questions our answer is

Bounty X Hunter

We came to a point previously, that web3 has provided the dev opportunity to work with the bounties, but there is no single place for this. Also, the companies looking for more devs who are not easier to find (saying from our experience)

So, what we found is the requirement for a single place where

  • Web3 companies can post a bounty
  • Dev can solve the bounty and get rewards
  • We get the devs to work with as we are involved with a hiring process
  • Alternative to jobs for web2 developers

we run a staffing and placement platform https://thestaffbox.com

We expect to build this initially on Avalanche with smart contracts as it is better to be in web3.

The idea is to enable people to sign up with their metamask wallet, and do operations and provide a platform for easy bounty findings.

A simple flow where

  • An application owner from Web3 company comes and post a bounty
  • Dev visits the BountyXHunter site and looks for a bounty, he finishes and posts the work or optional proof of work done
  • Bounty poster verifies and provides the bounty in form of tokens to the connected wallet address of the dev

Other features we are thinking of adding

  • A unified profile where all web3 companies can see devs bounties and their experience
  • A voting system to highlight profiles
  • Long term feature bounties where it's more than just fixing and bug requires more time off work with a company
  • Points system

We have not built anything yet, but we plan to do so. The app will be open source so we can get contributions from the community and community themselves to work on adding a feature, that they want.

To help us in our initiative we need to have some data by which we can make our finance team grant us some pocket money for this project. It's not easy to convince them, but your answers may help this.

Please respond to the given survey and help us.

https://yubpg57axrr.typeform.com/to/MNeVchim

If you also want to help us in another way, do let us know in the comments. We will soon create a discord community to have more ideas and share our status.

Meanwhile, feel free to give a visit to our site to know more.

http://bountyxhunter.io/

Thanks for reading. Best Wishes for the day.

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