Bug Bounty Program Launched by Libra Association Will Reward Security Experts

Libra Coin News
Tue, 08/27/2019 - 15:56
Alex Dovbnya
Those who will find flaws in Facebook’s Libra cryptocurrency will be able to pocket up to $10,000
Cover image via U.Today

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.   

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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.

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Moving forward 

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. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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