Okta's public bug bounty program has significantly enhanced the security of their Identity Cloud by providing a rigorous vulnerability discovery program that utilizes tools like Bugcrowd. The program offers rewards up to $15,000 and has been shown to be more cost-effective than other testing methods, with continuous testing in earlier phases of design and development allowing for end-to-end security testing. Okta's commitment to customer security and assurance is a key company value, and their bug bounty program plays a crucial role in supporting their Software Development Lifecycle (SDL) and vulnerability management programs.