What is a Bounty Program?
Bounty programs are used by crypto companies to crowdsource ideas and feedback from their customers. They create an incentive for people to become active participants in the process of product improvement.
The pros associated with bounty programs are:
– The company can get valuable feedback from their customers
– Bounty programs help companies to build a closer relationship with their customers
– It reduces the cost of hiring people for customer research and product building
– It encourages innovation and creativity
– The cons of using a bounty programme is that it can sometimes result in low quality content or submissions.
Pre-ICO First stage Of Bounty
Since the ICO market is still in its infancy, the most important thing is to gather a significant number of people on social media and on the blogosphere.
In this case, experts believe that it is necessary to use more than one platform. Otherwise, there will not be much investment. It includes marketing through the Social Media influencers, blog writers and marketers.
Post-ICO Second stage Of Bounty
In the second stage, Bounty programs are incentivizing developers and coders to detect flaws in the blockchain.
Bounty programs incentivize people who test and find flaws in the blockchain. These bounty programs were designed with Bitcoin’s White Hat Hacker Program in mind. Bitcoin’s White Hat Hacker Program was meant to incentivize people who found and reported bugs in Bitcoin’s code base. The Bitcoin community has been arguing that if the same approach is taken for Bitcoin, then they won’t be able to find all of the bugs.
The relationship between bounty hunters and developers is symbiotic; bounty hunters help developers improve their products, while developers help bounty hunters with their research skills and development of the product.
How to Choose the Right Bounty Provider for Your Company?
Choosing the right bounty provider can be a very daunting task. While there are many providers in the market, you need to make sure that you choose a company that meets your requirements and is reliable.
There are four main things to consider when making your selection:
1) If you have a budget, find out what it is and compare this with the prices of different bounty providers.
2) Do they have an extensive portfolio? If they do, then it means that they have experience in this industry which will help them deliver better results for clients.
3) It would also be wise to see if any of their previous customers have had a good experience with them.
4) Finally, choose one based on your needs or preferences.
Conclusion: Choosing the right bounty platform can foster creativity and innovation