Security Audit Funding
TL;DR Grin is nearing its final phases of development before the release of its cryptocurrency network (mainnet). To do so safely, the Grin codebase needs to undergo a security audit. We’re soliciting donations on the bitcoin segwit address bc1qdgs8vkpzr256qjlzlfht72z3mhcrdrt6wj2rfjw39j8us24gz8uq78qj65.
Goal: 16 BTC
Raised: 0.08 BTC
- You, the investor who plans to acquire grins, and believes in its value proposition of privacy and scalability.
- You, the miner or mining industry participant, who plans on participating in the mining of the Grin chain.
- You, the cypherpunk or otherwise bitcoin, ethereum, monero or zcash adopter, who believes Grin makes an important contribution in furthering some of those early cryptocurrency ideals.
- You, the technology enthusiast, who sees something in Grin that has never been tried before and is new an exciting.
- You, who’s not in any of the above categories, but believes that the current financial system status quo could use a good kick in the pants.
On our end, the Grin Council (which handles all governance oversight) nominated 5 secretaries. Those 5 individuals generated a 3-of-5 bitcoin segwit multisig address under supervision of the council, to guarantee funds’ safety. Note that everyone in both the council and the secretary group are fully independent individuals, working in entirely different capacity in different parts of the world.
When Grin launches, it will likely be used to secure the equivalent of millions of dollars (or euros, yuans, yens, pesos, etc) on its chain within a few days or weeks. While the Grin development team has done everything it can to identify and fix possible major security failures, Grin is still a very young and unproven codebase.
To reduce risks and follow standard industry practices (at least in the security industry), the Grin team is requesting a general code audit by a professional firm. The cost of the audit is estimated to be around $100,000.
Multiple firms have already been contacted and we will be undergoing a process of selection in the next few weeks. Once a firm is retained, we will strive to pay it directly from the fund (most firms accept bitcoin). Any excess will be used for the general maintenance of the Grin project.
We expect the audit to last one to two months, during which every new Grin development will undergo extreme scrutiny. Once the audit is finished and all discovered issues are either fixed or found to be minor, we will be ready to launch Grin’s main network.
More generally, the guidelines in the Grin security policy apply.