![Facebook [LIBRA] – Facebook Launches Bug Bounty for Libra Blockchain Testnet with $10,000 Max Reward](https://crypto-economy.com//wp-content/uploads/2019/09/libras.jpg)
Facebook is continuing its development of the proposed Libra cryptocurrency and this week it has announced the launch of a bug bounty in partnership with HackerOne development studio.
Since its announcement of the project in June, Facebook has faced regulatory push back especially from US regulators with the head of the House Financial Services Committee chairwoman Maxine Waters requesting a moratorium in order to assess the legality and impact to the global economy that such a project would have if it were launched. However, it seems Facebook will not be slowing down or stopping for anybody. Facebook launched the bug bounty to unearth any operational and security bugs that may be hidden from its developers.
In a post on Tuesday, August 27th, the company through the official Libra website stated that the bounty program will “encourage many more people with diverse skills and backgrounds to inspect and review the blockchain design and implementation.”
Aanchal Gupta, a security researcher working for Facebook’s Calibra subsidiary said in a stamen that,
“We hope that developers will bring a diversity of perspectives and expertise to this initiative while holding the Libra Blockchain to the highest security standard.”
Michael Engle, a lead developer with the Libra Association also expressed similar sentiments saying that,
“We want to help our researchers uncover issues while the Libra Blockchain is still in testnet and no real money is in circulation.”
The Libra blockchain is still in testnet. Facebook hopes to launch its Mainnet for testing in the Q4 2019 while the official launch is hoped for the first half of 2020. These are best-case scenarios but considering the amount of regulatory backlash the project has received, it may be wise for the Libra Association to allow for further delays and possibly cancelation.
Just this weekend, Ms. Waters wrote a report on her visit to Switzerland to have a chat with financial regulators on the possible regulations in place to oversee the running of Libra Association and its activities. In her report she said that she is still not convinced that Facebook should be allowed to launch the Libra blockchain.
Up to $10,000 is up for grabs for each bug discovered depending on its severity to the security of the blockchain. “The Libra Bug Bounty program reflects the Libra Association’s principles of openness, transparency, and global access,” the Libra post reads.
It seems a little too early to launch a bug bounty on a program that is yet to launch, especially as early as this. A lot of things could change between now and the launch date that will necessitate a revision of the Libra code. It is possible that Facebook is trying to address the trust issues that came up quite a bit in the July hearings at the US Congress.
