The Ethereum Foundation has launched a new initiative aimed at bolstering crypto security by addressing the high cost of smart contract audits. The "Audit Subsidy Program" allocates $1 million to make professional security reviews more accessible for developers.
This program, a part of the broader Trillion Dollar Security Initiative, partners with leading audit providers and ecosystem firms. It aims to lower financial barriers for teams, encouraging comprehensive security practices. The initiative also introduces the "CROPS principles" - censorship resistance, open source, privacy, and security - to guide application development on Ethereum. Builders of all sizes can submit projects for consideration, with selected teams receiving subsidies applicable to audit services.