Facebook’s Libra cryptocurrency testnet has reportedly registered over 50,000 transactions since it was reset on September 17th.
According to a blog post by Michael Engle, a Libra Association developer, the organization has been working on developing Libra by incentivizing community participation, simplifying how developers can work on Libra and launching a Bug Bounty program.
After the association reset the testnet, Engle claims it already “logged more than 51,000 transactions.” Developers working on Libra’s testnet also created 34 projects, which includes 10 wallets, 11 clients and 11 blockchain explorers.
According to the Libra Association, until its mainnet is launched the “best and fastest way” to demonstrate the cryptocurrency’s functionality is through a pre-mainnet, which makes it “easier and faster to test, troubleshoot, diagnose, and resolve software edge cases.”
It should be noted that the Libra Association has been facing regulatory scrutiny over the last few months, and some of its founding members ended up leaving the organization.