The term "bounty" is is borrowed from the gaming industry, which originally used bounties to find bugs or security loopholes in software.
Bounties, in their essence, are incentivized programs in which companies offer rewards to individuals in exchange fro performing certain tasks.
Now, bounties are popular in the blockchain space, where "bounty hunters" are recruited to do everything from uncover bugs to share news and translate content. A blockchain project may allot a certain number of their tokens to bounty programs, which are used to spread the word about their project. You can typically find more information about the amount of tokens allotted for a bounty program on the project's website, in their white paper or on a bounty announcement thread on Bitcointalk.
In other words, the rewards for participants in the bounty programs are usually in the form of cryptocurrency tokens. Bounty hunters are rewarded with tokens, and blockchain companies get to spread the word about their project—it's a win-win.
During a crypto bounty program, a number of tasks are typically incentivized, ranging from marketing to bug reporting. Before a token is released, a company may use a bounty to increase buzz around their project and increase the awareness of the company online.
Bounties commonly include around:
- Social Media
- Article Writing
- Bug Reporting
- Bitcointalk Signatures
To get involved with WorkChain.io's bounty program, you can stay tuned to our social media channels and watch out for our upcoming announcements: