As stated via Libra’s web page on August 27, the Libra team strongly noticed that the extensive feature of the project will particularly highlight values, which are fundamental to the Libra Association – nominally “openness, transparency, and global access,” – along with keeping problems to the minimum by the time of the launch.
The association shared that its initiative of introducing the bug bounty program is a move aimed to encourage individuals, who possess “diverse skills and backgrounds”, to check if Libra’s security network is functionally operative or not.
Michael Engle, developer ecosystem chief at the Libra Association – revealed that anyone able to discover any problems regarding security will be awarded $10,000.
“We want to help our researchers uncover issues while the Libra Blockchain is still in testnet and no real money is in circulation.” Engle explained the reason behind the move.
A noticeable point is that Facebook’s name has not come up throughout the entire introducing process of the new Libra’s program. The involvement of the social media giant with the stablecoin project has been the center of attention, in terms of regulations, recently.