Crypto

Here’s what you need to know about Facebook’s Libra

Libra is a cryptocurrency developed to enhance the standard of living of millions of people by giving them an accessible digital currency platform. All that’s needed to access it is a mobile device and data connection. Libra boasts of speed, security, and stability. Even though Facebook designed Libra, it does not control the cryptocurrency. It is supervised by the Libra Association.

Published

6 years ago

September 9, 2019

Helene Lindbergh

Libra is a cryptocurrency built on blockchain technology. It is developed to enhance millions of people standard of living by giving them a digital currency platform to be part of. And to do this, all you need is a mobile device and data connection. It has speed, security, and stability.

Even though the designer of the Libra is a reputed social media giant, it does not have the right to control or look after the cryptocurrency. It is actually controlled and supervised by its association called The Libra Association.

LIBRA - Cryptocurrency By Facebook — (Source)

The Libra Association is a group of companies that are founding members of the digital currency. There are 28 companies which busily take part in the Association and the strategy is to reach a total of 100 members who will act as the validators of the Libra currency.

The software used for developing Libra is a new programming language called Move. It is used to execute and develop decentralized finance, smart contracts, and transaction logic.

(Featured image by DepositPhotos)

Related Topics:Blockchain cryptocurrency featured infographic Libra

Helene Lindbergh

Helene Lindbergh is a published author with books about entrepreneurship and investing for dummies. An advocate for financial literacy, she is also a sought-after keynote speaker for female empowerment. Her special focus is on small, independent businesses who eventually achieve financial independence. Helene is currently working on two projects—a bio compilation of women braving the world of banking, finance, crypto, tech, and AI, as well as a paper on gendered contributions in the rapidly growing healthcare market, specifically medicinal cannabis.