Facebook Announces Libra; Here's Everything You Need To Know

Libra Coin – A New Digital Currency Developed by FACEBOOK

Libra is a cryptocurrency designed by Facebook to revolutionize the global economy. It is faster and secure, a basic mobile and data connectivity plan is all you need to access Libra.

Libra is a self-dependant association, this organization doesn’t work for profits the only motto of this association is to empower millions of people by giving basic financial infrastructure.

The controlling and supervising body of the Libra association is called The Libra association council which includes a representative of every member of the council. The policy decisions and operations are done by voting depending on the significance of the decision.

The reserve plays an important role in maintaining the value of Libra. Each Libra coin is backed by a set of stable and liquid assets and by joining with a competitive group of exchanges and other liquidity providers. This boosts up the confidence of the users that they can sell their Libra anytime at a value that is closer to the reserve.

This peculiarity makes Libra distinctive and safeguards from falling into the theories of speculations like several other cryptocurrencies.

Libra is developed on decentralized blockchain technology to support the more stable cryptocurrency that has the capability to act as a medium of transfer for people.

The Libra Blockchain is a distributed process that supervises both ownership of Libra and the exchange of Libra. It is an important thing that users of Libra should acknowledge the consonant view of the system. Otherwise, there is a chance of someone claiming he was paid when he had not even sent funds. This is termed as “double spending attack”.

The Move is a secured and flexible programming language for the Libra blockchain. It is an executable bytecode language helps in implementing smart contracts and smart transactions

Moves type system ensures your security. Other than these specific protections, resources are basic program values.

The safety and expressiveness of Move have enabled to implement significant aspects of the Libra Protocol in Move, including validator management, Libra coin, and transaction processing.

LibraBFT is a powerful and well-structured state machine replication system built specially for the Blockchain.

It is based on Hotstuff, a system that backs various decades of scientific advancements in Byzantine fault tolerance (BFT) and attains brawny scalability and security stuff required

The Libra association members regulate the validator nodes and the Libra blockchain will comprise geographically distributed and multiple businesses, non-profit and multilateral organizations and academic institutions.

The initial group of organizations that work combinedly on deciding the associations charter and become founding members after it is finished by internet settings.

Our friends at comes with an interesting infographic on Libra: Cryptocurrency By Facebook (In 5 Minutes), checkout the following infographic and share your thoughts on it.

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