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Sunday, July 21, 2019

Libra Currency for Beginners



Libra is a new cryptocurrency, which is projected to be launched in the year 2020. This is backup by Facebook and has received immense attention around the globe.

Facebook is the social network giant with a significant number of users.

Libra is the open-source software with the Apache License. The official website of Libra is Libra.org.

Libra is still in the developing phase and schedule to lunch when all the regulatory concerns are solved and met the approval.

Number of Cryptocurrency


There is a significant number of cryptocurrencies and the number of cryptocurrency is estimated to be around more than two thousand.

Libra is one of the cryptocurrencies in the developing phase.

Surge in Cryptocurrency


After the invention of Bitcoin in the year 2008 and its immense success history new cryptocurrency is constantly being evolved.

The profitability of crypto makes it appealing to various investors.



Founding Member


The founding member of Libra include MasterCard, PayPal, Stripe, Visa, eBay, lyft, Facebook, Women’s World Banking, Mercy Corps, Kiva, Vodafone Group, Andreesen Horowitz, Spotify, Uber, Lyft and others.

Mastermind of Libra


The mastermind behind the Facebook cryptocurrency project is Morgan Beller.

Price Swing


Unlike other cryptocurrencies like Bitcoin which price is highly volatile. The price of Facebook Libra is claimed to be stable. This is due to back up by the basket of currencies.

Energy Efficient


The transfer of Bitcoin consume immense power that is 1,000 kWh of electricity. Whereas the transfer of the Libra coin is believed to consume less computing power.

Easy to Use            


The Facebook Libra is claimed to be more user-friendly than the other digital currency available. As the Mobile App will be used to store, held, send and bought the currency.

Concern       


Facebook has a history of misusing the personal data of the users. This can cause huge hindrance in the acceptance of crypto-backed by Facebook.

Success of Libra


The success of Libra depends on the willingness of individuals and merchants to use it.

With continues growth of new technology, there is a steep completion to a Libra.




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