A bug bounty program is an initiative where organizations invite ethical hackers to find and report security vulnerabilities in their software or systems. In return, these hackers, often referred to as security researchers, receive monetary rewards or other incentives based on the severity of the discovered issues. This approach helps companies improve their security by leveraging the skills of a diverse group of individuals.
These programs are beneficial for both parties. Organizations can identify and fix vulnerabilities before they are exploited by malicious actors, while ethical hackers gain recognition and financial rewards for their contributions. Many well-known companies, including Google and Facebook, have established bug bounty programs to enhance their cybersecurity efforts.