- Jul 27, 2021
Libra is a prestigious project of well-known social media biggie Facebook to change the status of unbanked by providing them a currency that can be used globally and easily accessible across the world.
The main reason behind introducing Libra is to offer a global currency that has the capacity to bring everyone under the same roof and to empower millions of unbanked people.
Libra is developed using Blockchain technology, it helps in preventing attacks using LibraBFT, an adaptation of HotStuff Byzantine Fault Tolerant agreement protocol.
The Libra Blockchain is a decentralized, programmable database delineated to back a more stable cryptocurrency that will have the potential to serve as a well-organized channel of exchange for billions of people all around the world.
There is a Libra protocol to contrivance the Libra Blockchain and focuses to build a financial infrastructure that encourages innovation, nether hurdles to entry, and improves access to financial services.
Most of the cryptocurrencies don’t have any constant or stable assets to back them. To keep the value of Libra constant without any fluctuations they made a reserve with stable liquid assets.
Libra is an independent association, it is a non-profit organization going forward with a mission to emancipate billions of people across the globe by providing them a global currency and financial infrastructure. To get detailed information on Libra, please check the following infographic.