By Adeline Gibbs (Italy)
Facebook has made an announcement and says that the cryptocurrency projects of Facebook will give $10,000 to any of the security researchers from all over the globe who would find errors in the Libra.
The money will be paid by the Libra Association which is in charge of cryptocurrency projects of Facebook. The Libra Association is willing to pay thousands of dollars to the security researchers if they are able to find any critical flaws in the software of Libra.
Critical Vulnerabilities
The critical vulnerabilities for which Facebook is paying involve cryptographic implementation flaws which cause the bypassing of signature validation.
It also includes the virtual machine vulnerabilities which can cause the alteration of the execution of smart contracts written in Libra’s own Move language. These are some possible flaws that are considered as critical vulnerabilities.
Building a scalable, reliable and secure @Libra_ Blockchain is our priority. We need your help to identify bugs and flaws in the platform. Rewards of up to $10K. Start now: https://t.co/Mrv6ymTzoS
— Diem Developers (@DiemDevelopers) August 27, 2019
Payment Scheme for Libra Bugs
Following is the criteria for the payment scheme of Libra for the security researchers who will find bugs in Libra’s software:
- The payment for finding out critical vulnerability is thousands of dollars.
- If the severity level of flaws is high then the security researcher would get $5000 after finding the errors.
- While the amount of $1500 will be given to those who would discover bugs having the medium severity level.
- For the low-level severity flaws, Libra Association would pay $500.
Also read:Second-Testing For Libra Software
The Libra Association has done this testing of Libra’s software before. The testnet was tested by the fifty security researchers. These researchers had got good skills in blockchain technology and were hired by the Libra’s management at the time of the announcement of cryptocurrency in June.
The testnet is in the early phase of development and is using the digital currency whose value is zero in the real world.
The creator of Facebook’s libra said that we are not looking forward to launching cryptocurrency without the regulatory concerns being addressed. He said so when he was present in the US Congress in the previous month.
3/3
And we will not launch until we’ve fully addressed regulator concerns. We also recognize that for the Calibra wallet trust is essential. I’m looking forward to speaking with the @FSCDems tomorrow.— David Marcus (@davidmarcus) July 16, 2019
It was not indicated by the creator of Libra that they will not stop the development of cryptocurrency despite having a plea by the US congress.
Conclusion
As Libra association is offering a good amount for the critical vulnerabilities, so now there is a chance for the security researchers to find bugs in the software of Libra and get the amount of thousands of dollars.
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