bounty system

A bounty system is a method of incentivizing individuals to solve specific problems or perform certain tasks by offering rewards, often monetary, upon successful completion. Organizations or entities identify a challenge, set clear criteria for solutions, and then publicly invite participants to submit their work. If a participant’s submission meets the requirements, they receive the predetermined bounty. This approach encourages innovation and problem-solving from a broad community, such as researchers, developers, or the public, by aligning incentives with desired outcomes, making it an effective way to leverage collective expertise and resources.