After Maxine Waters’ meeting with the Swiss’ Federal Data Protection and Information’ commissioner Adrian Lobsiger didn’t alleviate the rising pressure placed on Facebook, the Libra Association has decided to ensure its commitment towards transparency by releasing a Libra Bug Bounty Program.
Holding optimistic views on the eventual release of its stablecoin in 2020, the Libra Association decided to make its Libra Bug Bounty Program available to the public. The news was released in an announcement on Libra’s official website on the 27th August.
With the Libra Bug Bounty Program, the association will ensure the additional security of its cryptocurrency before it will hit the market next year by rewarding individuals who successfully discover bugs and alert developers. The decision was also made in an effort to make the Libra project more transparent, likely due to the regulatory pressure placed on Facebook.
An active Libra community is supposed to act as bug hunters
According to the post, the association is planning to create an “open and vibrant community” of individuals with a variety of skill sets and backgrounds. This future community is supposed to actively research, track and report bugs and issues within the blockchain network.
Generally, projects with an active developer community tend to quickly detect problems and propose changes, ensuring a safer system for all participants. A successful example is the Monero developer community, which has a sizeable track record of fixing bugs.
Furthermore, the association presents feedback sharing as a significant factor. By highlighting samples of fixed and ongoing issues, the Libra Bug Bounty Program will ensure transparency.
For this purpose, Libra is looking for a diverse set of participants, seeking help from individuals in all parts of the world. The Libra Bug Bounty Program will therefore host events in different regions to make sure that everyone will get the opportunity to participate.
Which rewards can Libra’s bug hunters expect?
The Libra Bug Bounty Program will offer various benefits in order to motivate bug hunters to participate.
Individuals who discover critical issues in the Libra blockchain will therefore be rewarded with payouts of up to $10,000. The Libra Association will also assist bug hunters in their search by providing high-quality support and documentation.
On top of this, the association has decided to partner with HackerOne. The move was made in an effort to ensure Libra’s dedication towards bug bounty programs “in both open source and blockchain programs.”