What are Bug Bounty Programs? How do they work?
Netscape started the first bug bounty program on October 10th, 1995, offering cash prizes to anyone who discovered security vulnerabilities in the Netscape Navigator 2.0 Beta. The bug bounty program offers financial compensation to users who discover security problems or vulnerabilities in a digital platform, website, and organizations app. This program can detect security flaws and improve the quality of their digital platforms. The bug bounty has been used successfully by companies dedicated to protecting trade secrets and private details gathered from customers and workers to improve their system security. We can say bug bounty has become a significant feature of many security programs.
Although security flaws may do considerable harm, functional problems also threaten companies and their bottom lines. As more companies and organizations pursue digital transformation, it is essential to be watchful against the threat that functional defects or anomalies offer. The Functional bug bounty offers a variety of benefits that can help companies continuously enhance the quality of their digital services.
Benefits of a Functional Bug Bounty Program
Let’s look at the four important benefits of the bug bounty program.
· Continual Testing
Basically, the benefits of the Functional bug bounty come from the continual testing of digital systems. According to continuous testing, brands may also enhance the quality of their digital platforms by eliminating high-frequency functional issues before they cause substantial damage.
· Test Flexibility
Bug bounty also gives the flexibility that many companies require to meet their testing needs and keeping different digital projects on schedule without any exhausting resources.
· Appropriate Resources
We are the testers. With the capability to conduct bug bounty campaigns through our internal testing labs or our community of crowd testers, QA test campaigns could be completed by testers with the necessary abilities, experience, and settings to maximize quality and productivity.
· Detailed Bug Reporting
The bug bounty also enables companies and project managers to track daily test campaigns by documenting test results.
Is Your Company Ready for a Bug Bounty Program?
Many businesses consider bug bounty programs, whether self-managed or administered through a commercial platform provider, as a cost-effective approach to crowdsourcing their vulnerability detection process. It can also be a valuable tool in your vulnerability management tools. But there are pitfalls to jumping into a bug bounty program too quickly, and most companies are simply not well-staffed enough or competent to handle the flood of reported vulnerabilities. To provide security, you must select the best company in this sector.
Before you know you’re ready for a bug bounty program, you must achieve the following five milestones:
1) Know How This Will End: To begin, consider the following: What exactly are your objectives? Companies offer private bug bounties and public programs for a variety of reasons, from improving a vulnerability management program or secure development lifecycle to getting some good press for your security team.
2) Fair Game: Public bounty systems start small, limiting what’s fair game for bounty hunters too, for example, public-facing web applications that don’t require authentication. Remember if bug hunters don’t understand what they’re looking for, they’ll-become discouraged and your program’s reputation will suffer.
3) Receive to Remediate: Many bug bounty programs fail to get off of the gate because they lack a proper mechanism for receiving and triaging bug reports. It may appear to be a simple
and obvious task, yet it is one of the most critical.
4) Talk to Me: It can be true that pay motivates bug hunters. However, the majority are truly driven by the desire to do the right thing and secure the internet and business. When a submission occurs, have a system in place to communicate expectations with a bounty participant.
5) SDL is hungry; Feed It: Bug reports and remedy choices should be fed into your secure development lifecycle and prepare for the assault by analyzing unique problems and reporting duplicates to submitters as soon as possible. Then invest in your SDL and triage processes, and be clear about what you want to accomplish. It’s also a good idea to start small and restrict your scope.
Moreover, the clear goal should be a proactive approach to security and remediation, with a reasonable goal of wiping out classes of bugs rather than fixing one-offs for all eternity.
After we found out about what is bug bounty, we can say, bug bounty is a very useful program that any company requires to maintain their security. For example, the financial industries hold some of the largest collections of sensitive private information in their company. Their records can be used to commit identity theft and fraud, so they need the best security for storing data in their business. To help protect their consumers, the bug bounty is an excellent tool that truly secures information from any attacker.
SecureBug: your incredible bug bounty partner
Here at SecureBug, we can help you to uncover security flaws in your system before attackers do. Using SecureBug’s crowdsourced security platform to run a bug bounty program helps your business get ahead of the game by taking action on your cyber offensive measures.