With a cloud of regulatory uncertainty hovering above it, Facebook is moving forward with the development of its Libra cryptocurrency by announcing a bounty bug program.
Those security experts who will be able to find crucial mistakes in the coin’s code could be rewarded with a hefty $10,000, TechCrunch reports.
The hunt is on!
The program was launched in partnership with HackerOne, the San Francisco-based security platform that helps its clients to detect and fix critical vulnerabilities that can be exploited by bad actors.
Facebook wants to make sure that its infrastructure is robust enough to provide financial services to its mammoth-size user base.
Our hope is that people around the world can turn to Libra for their everyday financial needs, so the infrastructure must be dependable and safe,” said Dante Disparte, Head of Policy and Communications, Libra Association.
As of now, the Libra Blockchain is in the testnet stage, which means that there is a long road to an official launch.
With that being said, this program proves that the social media giant is not going to backpedal on its plan to launch a contested stablecoin that will be backed by a basket of fiat currencies despite facing intense scrutiny.
However, Disparte pointed out that that the Facebook Blockchain won’t be launched until the company hammers out regulatory issues.