Facebook Libra: Everything to know about the cryptocurrency
Facebook Libra: Everything to know about the cryptocurrency To boost adoption and to become a “global currency,” Libra became a stablecoin. Libra is going to be a stablecoin which is backed by the Libra Reserve, which is a reserve of real assets. A blockchain is a series of blocks that contain time-stamped data and each block is linked to the other cryptographically. Miners in Bitcoin and Ethereum bunch up transaction data and put them in the blocks and adds them to the blockchain via the proof-of-work consensus mechanism. If Facebook can convince a vast majority of their users to use Libra, they will be able to convince their friends and family to follow suit automatically and start using Libra, in other words, move from (A, A) to (B, B). If you are into cryptocurrencies, chances are that your timeline and newsfeed has been flooded with news about Facebook’s Libra aka GlobalCoin. For the rest of us, there will still be advantages to Libra, especially incentives to use...