Libra coin wikipedia
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- Schaller WTI GmbH Wasseraufbereitung
- Building trust into data for the future of blockchain compliance
- Libra (cryptocurrency)
- Zuckerberg calls Libra coin a key for American leadership
- Libra: economics of Facebook’s cryptocurrency
- Libra Credit (LBA) ICO Review – ICO Token News
- Libra Coin
- Trade Cryptocurrencies Securely and Simply Today
Schaller WTI GmbH Wasseraufbereitung
Moving money around the world should be as easy and cheap as sending a text message or a photo. Goodbye Switzerland, hello United States. Facebook's Diem is moving its stablecoin project to the U. Diem Association announced it has partnered with U. New chiefs hired for launch in ! A: "The original [Libra] name was tied to an early iteration of the project that received a difficult reception from regulators. Q: Why is it called Libra? A: The Libra name was inspired by 1 Libra the Roman unit of weight measure , which was eventually used to mint coins.
The Libra name is a combination of money, justice, and freedom. Q: Why is it called Diem? A: Diem stems from the famous latin phrase 'Carpe Diem' translating to 'Enjoy the present, make the most of today', a common mistranslation is 'Seize the Day' according to Carpe diem Wiktionary. Diem is the accusative of dies "day". A more literal translation of carpe diem would thus be "pluck the day as it is ripe" - that is, enjoy the moment.
It has been argued by various authors that this interpretation is closer to Horace's original meaning. Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people. This document outlines our plans for a new decentralized blockchain, a low-volatility cryptocurrency, and a contract platform that together aim to create a new opportunity for responsible financial services innovation.
Libra's goal: A stable cryptocurrency built on a secure and stable open-source blockchain, backed by a reserve of real assets, and governed by an independent association. Libra is a stable coin backed by a basket of four? Facebook has announced that each of the ? Source: Libra cryptocurrency Wikipedia. A: Libra can be broken into 1 million smaller units, that is, 0.
The official name for the smallest 0. Q: What are the actual assets that will be backing each Libra coin? A: The actual assets will be a collection of low-volatility assets, including bank deposits and government securities in currencies from stable and reputable central banks. As the value of Libra will be effectively linked to a basket of fiat currencies, from the point of view of any specific currency, there will be fluctuations in the value of Libra.
The makeup of the reserve is designed to mitigate the likelihood and severity of these fluctuations, particularly in the negative direction i. To that end, the above basket has been structured with capital preservation and liquidity in mind. On the capital preservation point, the association will only invest in debt from stable governments with low default probability that are unlikely to experience high inflation.
In addition, the reserve has been diversified by selecting multiple governments, rather than just one, to further reduce the potential impact of such events. In terms of liquidity, the association plans to rely on short-dated securities issued by these governments, that are all traded in liquid markets that regularly accommodate daily trading volume in the tens or even hundreds of billions.
This allows the size of the reserve to be easily adjusted as the number of Libra in circulation expands or contracts. The Libra Association is the only party able to create mint and destroy burn Libra. Coins are only minted when authorized resellers have purchased those coins from the association with real assets to fully back the new coins.
Coins are only burned when the authorized resellers sell Libra coin to the association in exchange for the underlying assets. Since authorized resellers will always be able to sell Libra coins to the reserve at a price equal to the value of the basket, the Libra Reserve acts as a "buyer of last resort.
An additional goal of the Libra association is to develop and promote an open identity standard. We believe that decentralized and portable digital identity is a prerequisite to financial inclusion and competition.
Note to readers: The first Libra Association white paper was published in June This new Libra Association white paper, published in April , is intended to be a stand-alone update regarding the plans of the Libra Association. Additionally, supporting technical papers also published in June have been edited or retired. The Official Diem White Paper. This white paper, originally published by the Libra Association in June and then re-issued as a stand-alone update in April , replaces previous versions published by the Association.
The Diem payment system incorporates three aspects that work together to create a financial system:. Diem Coins are single-currency stablecoins e.
A: Diem single-currency stablecoin e. Diem single-currency stablecoins will be fully backed by the Diem Reserve, consisting of cash or cash equivalents and very short-term government securities denominated in the same national currency USD, EUR, and GBP as the stablecoins.
A: We expect most users will be able to buy Diem Coins through exchanges that list Diem Coins or through the applications that will be built on the Diem Blockchain, including digital wallets and other financial products and services.
A: Diem Coin holders can use Diem Coins for everyday use to pay for goods and services if big if accepted by the seller , send Diem Coins to other users, or cash out the Diem Coins back into the local public national currency.
The Diem formerly Libra Association is a [self-proclaimed] independent membership organization [setup, financed and managed by Facebook], headquartered in Geneva, Switzerland. The Association's purpose is to govern the Diem network and Diem Reserve; oversee the operation and evolution of the Diem payment system; help [Facebook] building services on top of the Diem Blockchain in a safe and compliant manner; and establish grant-making for banking the 1. We believe that for the Libra network to achieve its full potential, it needs to be permissionless.
As a result, one of the association's directives will be to work with the community to research and implement this transition, which will begin within five years of the public launch of the Libra Blockchain and ecosystem. The Diem Blockchain is open source. We're working to build a trusted and innovative financial network that empowers people and businesses around the world.
Diem Developer Website HQ - developers. Featuring a reference wallet, tools for merchants, Move components, and more! From the Diem Forum post "Libra is now Diem" :. New Developer Site - We've restructured our developer website, written in-depth tutorials, and added tons of new documentation.
Check out the new Diem Documentation site developers. Reference Projects - We've built two new interactive projects that are now ready to test:. Reference Wallet developers. Reference Merchant developers. Move Documentation - We built our blockchain with Move, a new Rust-based language with resource scarcity and improved asset protections.
We're excited to announce the long-awaited official Move documentation, publicly available for the first time developers. Abstract : The Diem Blockchain is a decentralized, programmable database designed to support a low-volatility cryptocurrency that will have the ability to serve as an efficient medium of exchange for billions of people around the world. We present a proposal for the Diem protocol, which implements the Diem Blockchain and aims to create a financial infrastructure that can foster innovation, lower barriers to entry, and improve access to financial services.
To validate the design of the Diem protocol, we have built an open-source prototype implementation - Diem Core - in anticipation of a global collaborative effort to advance this new ecosystem.
The Diem protocol allows a set of replicas - referred to as validators - from different authorities to jointly maintain a database of programmable resources. These resources are owned by different user accounts authenticated by public key cryptography and adhere to custom rules specified by the developers of these resources. Validators process transactions and interact with each other to reach consensus on the state of the database.
Transactions are based on predefined and, in future versions, user-defined contracts in a new programming language called Move. We use Move to define the core mechanisms of the blockchain, such as the currency and validator membership.
These core mechanisms enable the creation of a unique governance mechanism that builds on the stability and reputation of existing institutions in the early days but transitions to a fully open system over time. Abstract: We present Move, a safe and flexible programming language for the Diem Blockchain. Move is an executable bytecode language used to implement custom transactions and contracts. The key feature of Move is the ability to define custom resource types with semantics inspired by linear logic: a resource can never be copied or implicitly discarded, only moved between program storage locations.
These safety guarantees are enforced statically by Move's type system. Despite these special protections, resources are ordinary program values - they can be stored in data structures, passed as arguments to procedures, and so on.
First-class resources are a very general concept that programmers can use not only to implement safe digital assets but also to write correct business logic for wrapping assets and enforcing access control policies. The safety and expressivity of Move have enabled us to implement significant parts of the Diem protocol in Move, including Diem coin, transaction processing, and validator management.
Q: What's Move? A: A statically-typed programming language derived from Rust, compiled to bytecode. Welcome to Move, a next generation language for secure, sandboxed, and formally verified programming. Its first use case is for the Diem blockchain, where Move provides the foundation for its implementation. Move allows developers to write programs that flexibly manage and transfer assets, while providing the security and protections against attacks on those assets.
However, Move has been developed with use cases in mind outside a blockchain context as well. Move takes its cue from Rust by using resource types with move hence the name semantics as an explicit representation of digital assets, such as currency.
Move has all of the syntax and semantics you would expect from a first-class programming language. However, there is an entire architecture dedicated to creating, using, and executing code based on Move. The diagram below shows the architecture of Move as it pertains to the Diem Payment Network, from using the source language to script execution.
Source: Move Introduction Diem Developers. More contract samples from the Move Contract Playground :. DiemBFT is based on HotStuff, a recent protocol that leverages several decades of scientific advances in Byzantine fault tolerance BFT and achieves the strong scalability and security properties required by internet settings. DiemBFT further refines the HotStuff protocol to introduce explicit liveness mechanisms and provides a concrete latency analysis.
To drive the integration with the Diem Blockchain, this document provides specifications extracted from a fully-functional simulator. These specifications include state replication interfaces and a communication framework for data transfer and state synchronization among participants. Finally, this report provides a formal safety proof that induces criteria to detect misbehavior of BFT nodes, coupled with a simple reward and punishment mechanism.
Calibra web: calibra. Calibra's launch is planned for the 2nd half of
Building trust into data for the future of blockchain compliance
Facebook wanted to revolutionize finance with a global digital currency — then came the regulators. First proposed in June with the name libra, the token was initially intended to be a universal currency tied to a basket of sovereign currencies such as the U. But after facing strong opposition from regulators around the world, the organization overseeing the project lost major backers including Visa and Mastercard. The group eventually watered down its plans , opting for multiple "stablecoins" backed one-to-one by different government-backed currencies, as well as one multi-currency coin.
Libra (cryptocurrency)
A cryptocurrency created by Facebook that is backed by real-world assets a basket of bank deposits and short-term government securities. Libra is managed by a non-profit organization regulated by the Swiss financial authority known as the Libra Association; consisting of Facebook, Calibra a subsidiary of Facebook , and 27 other companies. Libra is a blockchain -based cryptocurrency that is price-stabilized see stablecoin through the backing of a basket of bank deposits and short-term government securities held in the Libra Reserve. The Libra Reserve is managed by the the not-for-profit Libra Association, that is headquartered in Geneva , Switzerland and is regulated by the Swiss Financial Authorities. The Libra Association is made up of Facebook , a subsidiary of Facebook called Calibra, and 27 other companies. The purpose of the Libra Association is to develop permissionless governance and consensus for the Libra network. Facebook plans on allowing people to purchase the Libra cryptocurrency online and at various brick and mortar locations around the world. On June 18, the American social media company Facebook , released a white paper with details about their plans to launch an open-source cryptocurrency project, called Libra, in the first half of
Zuckerberg calls Libra coin a key for American leadership
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Libra: economics of Facebook’s cryptocurrency
Interview Description Timestamps Show Notes. Click down arrow to download the file. What are the politics of Bitcoin? However, Bitcoiners are a broad church. The original cypherpunks philosophy was predicated on anarchist ideals, to work outside of government controls.
Libra Credit (LBA) ICO Review – ICO Token News
Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. Reserve Rights. United States Dollar. Reserve Rights is up 4. It has a circulating supply of 13,,, RSR coins and a max. You can find others listed on our crypto exchanges page.
Libra Coin
Facebook has finally revealed the details of its cryptocurrency, Libra, which will let you buy things or send money to people with nearly zero fees. Today Facebook released its white paper explaining Libra and its testnet for working out the kinks of its blockchain system before a public launch in the first half of The association will promote the open-sourced Libra Blockchain and developer platform with its own Move programming language, plus sign up businesses to accept Libra for payment and even give customers discounts or rewards. In cryptocurrencies, Facebook saw both a threat and an opportunity.
Trade Cryptocurrencies Securely and Simply Today
While it seems like the entire world is busy experiencing the electronic payment, little do you know that a substantial rate of population is still underbanked or having little access to traditional banking. This is because of the higher commission rates or interest rates charged by either a third party platform or your high-street banks. Accessing credit service is still a challenge for many salaried people in developing countries, for salary higher limits to acquire the card and interest rate posed against any missed bill payment. This is exactly why Libra Credit is making its contribution into making digital payment mainstream payment mode amongst the underbanked. Once it is successful, it will help the large underbanked segment avail credit lending services too.
In , crypto believers became convinced that the U. And not without reason: a series of decisions by the SEC and other regulators suggested that federal officials are not just indifferent to the industry, but actively hostile to it. The question is why. While many crypto advocates insist the government is corrupt or inept, the reality is that the Biden Administration is pursuing a crafty strategy to tame an industry it views as a threat. Interviews with former regulators and executives at top crypto firms reveal a sophisticated plan not to crush crypto, but to co-opt it by handing a core part of the crypto industry—stablecoins—to the big banks. Doing this, regulators believe, will bring the free-wheeling crypto economy to heel. Who exactly is behind the strategy?
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