Facebook’s Libra isn’t your average run of the mill thesis that you can stuff at the back of your head and forget about it till the time it releases.
Libra, as Facebook announced in a blog post, is bound to be released next year. But before that happens, The social media giant wants to make sure that things will be running smooth. No one would be bugged by the potential misses that the blockchain code entails.
Something bugging you?
Facebook just wants its blockchain to be strong and dependable.
That’s all, and for that, we have a time bomb ticking before the program hosted on HackerOne starts running out of bugs. Yes, the platform that all the leading joints in the marketplace used to have their code sorted out, those including, Starbucks, Spotify and the European Commission along with other one hundred and ninety-nine thousand (199,997) clients that need to get rid of bugs in their code.
It’s a complete makeover that Facebook is demanding including protection against forking threats, denial of service (DOS) prevention, block and transaction tampering, validator compromises along with the authentication of the double-spending module.
Ok, Facebook, What do I get out of this?
Facebook holds all the cards when it comes down to the threat level because, well, they’re not making the people do it for free.
The treats range from critical (Virtual Machine flaws responsible for ‘Move smart contacts’ being altered) to the lower ones that might exist in the Calibra wallet’s framework.
Critical threats can be rewarded for ten thousand dollars ($10,000) each with the high priority bugs being discovered for five thousand dollars ($5000). Medium level bugs are tagged with one thousand and five hundred dollars ($1,500) while the low-level threats will be rewarded with five hundred dollars ($500).
The only person to have made a successful submission, yet, is Michael Xu for Medium level bug submitted- worth fifteen hundred dollars ($1,500).
Facebook’s outreach program is also at play here.
The outreach program is for the academic community to work their way through the bugs in the code. This will be given a push by an assortment of code snippets with the flaws, released by Facebook- hopefully corrected ones- to encourage the rest of the community.
Wait there’s more.
This isn’t just about the Libra project. With Libra being the payment method of choice in the near future for Facebook and WhatsApp alike, the company wants to make sure that none of the bugs crawls into their masterpieces.