Facebook Launches Bug Bounty Program for Libra Test Net Blockchain, Libra Core

Libra launched a public bug bounty program with developers getting up to $10,000 USD in rewards. This security compliance measure follows the recent efforts by Facebook to tighten up on regulatory compliance.

In its quest to build a global currency and financial system to empower billions of unbanked and poorly banked people, Libra launched the public security bug bounty program on August 27. The Libra bounty program is expected to bring together blockchain developers across the world to strengthen the security of the Libra platform before official launch in 2020.

Up to $10,000 USD Rewards to Be Offered

Facebook is partnering with HackerOne to improve the Libra Test net, an early prototype of the Libra blockchain, Libra Core. The developers will have access to the test version of Libra Core, which uses coins with no real value, a contrast to the main net version set to be released next year.

Libra is offering up to $10,000 USD as an incentive to the developers who find the most critical bugs in the system. The rewards will then be offered in level of severity of the bugs found in the system. The table below gives an overview of the levels of rewards in the public bug program.

Levels of Libra Core's bug bounty rewards as reported by HackerOne on Aug 27 (Source: HackerOne)

The public bounty program will follow Libra’s major principles including the global participation to promote researchers’ contributions across the globe, openness and vibrant developer community and the top bug submissions will be publicly aired.

In a blog post on the Libra website, head of developer ecosystem at the Libra Association, Michael Engle, praised the opening of the public bug bounty. He further said,

“Bug bounties are a well-established way to encourage members of the security community to detect and report security vulnerabilities in exchange for potential rewards.”

Regulations Concern For Libra Association?

On Aug 27, BEG reported the extreme efforts put in place by Facebook to circumvent the regulatory hurdles facing Calibra. First, the company hired a Washington lobbying firm to see its interests well-represented in Congress. Furthermore, the tech giant has several job openings in the regulatory department of Calibra as the project fills all cracks regarding regulation compliance.

On Aug 23rd, FT reported that three unnamed parties in the Libra Association were contemplating to leave the blockchain citing regulatory pressures as the major cause.

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