You might have heard about bug bounty. Many people have made their names and have earned huge money by finding bugs. There are several programs and Google also runs a similar program.
Though now Google is ready to take this bug bounty program to next Level. Google is about to make sure that there is no Vulnerable App available in Play Store. So it is an alarm for developers as well as no Apps with weak security would be allowed on Play Store.
Google would be paying $1000 to any researcher who will find a bug in Apps on PlayStore. This will help in improving the security system of Android. Will also ensure that the PlayStore will be having only those Apps which are not Vulnerable.
In past Google has used bug bounty program to improve Chrome and other services. App Bug bounty program will work to improve the security of Android. Hackers will try to find vulnerabilities in different 3rd party Apps.
Once a vulnerability is found developer will be informed. Then both hacker and developer will work together to find a solution for the problem within 90 days. After then the report would be submitted to Google. Google then will check out does it meets their standards and will reward accordingly.