Polkadot Encourages Community To Fight Scams

By November 24, 2022Polkadot
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Polkadot, a protocol that connects blockchains, has announced its latest initiative to help its ecosystem combat scams.
Polkadot Encourages Community To Fight Scams
Polkadot Encourages Community To Fight Scams

A blockchain-connecting protocol called Polkadot has unveiled its most recent effort to support its ecosystem’s fight against fraud. The company claims that relying on security-conscious members of its community to combat scams has proven to be a successful way to protect its environment.

Polkadot consistently pays out bounties in USDC to its community members to encourage them to keep up the good work. Polkadot revealed that the general curators, which at the moment consist of three community members and two representatives from the W3F Anti-Scam department, are in charge of managing its bounty.

Polkadot anticipates that the bounty will eventually be handled solely by the community in the long run. Community members are tasked with identifying and removing scam websites, phony social media profiles, and phishing apps as part of the community-led anti-scam initiative, as well as defending its Discord servers from raids.

In addition, the community will develop user-educational materials and an Anti-Scam Dashboard that will serve as the focal point for all anti-scam initiatives inside its ecosystem.In general, the program encourages participants to propose plans for extending anti-scam efforts to other regions.

The Web3 Foundation and Parity have decentralized their anti-scam operations and moved decision-making to the community. It appears that Polkadot is taking the steps required to develop and improve its ecosystem.

Polkadot’s development activities reached an all-time high on October 17. According to project creators, 66 blockchains are currently operational on the blockchain and its parachain startup network Kusama.

Over 140,000 messages have been sent and received between chains through 135 messaging channels since the system’s inception. To support spending requests in the ecosystem, the Polkadot and Kusama treasuries have collectively disbursed 9.6 million DOT and 346,700 KSM ($72.8 million total).

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