The company is offering shares of 1% of the total supply of Coda tokens by uncovering vulnerabilities and attack vectors against does on the testnet Coda blockchain. The project uses zero-knowledge proofs to create a blockchain in just a few dozen kilobytes size.
The participant developers can receive Genesis Grant for helping develop the community and learning more about technical aspects of the protocol. If it is successful, Coda blockchain will create one of the most widely distributed networks covering millions of smartphones and other connected devices.
Code protocol uses zero-knowledge (ZK) SNARK proof technology to verify all that are connected to the blockchain network. It keeps the data storage requirements for the nodes that are tiny. ZK SNARKS uses hash signatures from previous blocks to very that everything in the blocks is in order without needing to know the specific contents of previous blocks.
This system requires just a few dozen kilobytes of data storage. It can still maintain the speed of up to 100 transactions per second. Other blockchains such as Bitcoin, Ethereum have several hundred GBs in size and still growing.
Considering the minimal requirement, Coda is focused on maximising the number of nodes on the network by being welcoming to the newcomers. It also has Mentor Nodes and Technical Ambassadors program. Coda plans ot onboard additional users to earn testnet rewards.