Libra - Cryptocurrency By Facebook: Everything you need to know about Facebook's Libra Cryptocurrency (a permissioned blockchain digital currency).
A simple idea of making money global, safe, steady and to create a platform where everyone can get the right to experience the equal financial opportunities laid a path for the invention of Libra.
Technology has transformed the world around us and made it a smaller place, people can easily send texts, pictures, and documents but when it comes to transacting money things become a little complicated. But Libra came as a solution for all these problems.
Libra is a decentralized cryptocurrency build on blockchain technology, it ensures the safety and enables access to everyone no matter where you are from or who you are.
Libra is for everyone, you may be in one corner of the world and you want to send money to another corner, with Libra it is possible within seconds and there is no reason to worry about transaction charges because the transaction charges are very minimal.
A reserve is made for Libra which prevents it from falling into speculation theories and to keep the value of Libra stable.
There are massive fluctuations in the value of other crypto currencies, but in the case of Libra it is different, even a common will guess what will be the value of Libra coin in the future.
Reserve is backed by a set of stable and liquid assets, it works with a competitive group of exchanging platforms, which boosts up the confidence of consumers that they can resale their Libra any time they want at a good value.
Although the developer of Libra is Facebook that does not give the right to control and authorize the operations. They have formed an association called The Libra Association.
As Libra is powered by Blockchain technology, it prevents attacks on Libra with the help of Libra BFT (Byzantine fault tolerance) and it is allocated in a way to control both ownership and transfer of Libra.
The safety of Move allowed to execute important parts of Libra Protocol in Move, inclusive of Libra coin, validator management and processing transactions.
To find more information about Libra, please go through the following infographic developed by Karthik at Mrbtc.org. Don’t forget to share your valuable thoughts on our infographic.
Article submitted by MrBTC.
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