Libra coin on binance

In a new report, Binance Research assessed the implications of the recent changes made on the Libra whitepaper. Binance Research , the market research and analysis arm of Binance , released a new report, which studied the updates and changes made in the latest whitepaper of Libra, the frequently-discussed blockchain project spearheaded by Facebook, particularly its evolution from a network centered around one unique multi-currency stablecoin into a new global payment system and financial infrastructure. The whitepaper also provides a better description of the various parties in the Libra universe, as well as the set of currencies multiple single-currency and a multi-currency pegged stablecoins. Amid these changes, the technological system behind Libra remained consistent with the original design from the technical papers from Since then, Libra had faced increased scrutiny from regulators and notable shifts in the composition of the consortium of companies that back it.

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WATCH RELATED VIDEO: What Binance CEO Thinks About Facebook's Libra and Telegram's GRAM (Part 3/4)

Will Libra Live Up To Its Initial Ambitions?

By Stefano Cavalli - 28 Jun Facebook has recently announced its currency, Libra, releasing the whitepaper ten days ago. Aside from that, the social network giant has also created the first 23 nodes that have already been confirmed and that will become part of the Libra Association. In the coming months, there will certainly be more information, also with regard to other companies that wish to become part of it.

Chao has made it known that Binance is certainly thinking of becoming a validation node for the new Facebook currency. Especially in the last period, Facebook is at the centre of several controversies that affect not only Libra but also the ecosystem that would be created with the advent of this new currency, both politically and economically.

Chao also shares the idea of trading Libra within Binance :. And so, we would like to throw our hat in the ring. Binance has already published a first in-depth report on Libra in which it explains its short-term, medium-term and long-term visions followed by a broad conclusion. Any time a company with the weight, size, resources, and impact of Facebook gets involved, it validates both blockchain and then, in this particular case, cryptocurrencies specifically.

Gin Chao firmly believes that Libra represents one of the best chances for cryptocurrency adoption. It is a real use case that will be able to attract the attention of billions of people very quickly.

Stefania Stimolo - 3 Feb We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it. Prev Next. All Fintech. Previous article Gemini: the exchange opens an office in Chicago. Next article Bitsane Exchange: possible scam. Stefano Cavalli. Related posts More from author. The Cryptonomist Italia. More Stories.


Bloomberg -- One of the largest cryptocurrency exchanges is looking to partner with governments and companies to develop new digital currencies as it competes with the Libra project spearheaded by Facebook Inc. Developing so-called stable coins like Tether that are pegged to the U. Traders have flocked to these lower-volatility coins as they can be used to facilitate transactions and to park funds during wild swings in prices. Unlike Facebook, which announced its Libra coin with 27 partners from Visa Inc.

Encrypted chat app Keybase is pre-empting Facebook's Libra coin with the biggest-ever and Binance ( million XLM) in recent months.


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Facebook launches Libra cryptocurrency, with lofty goals

libra coin on binance

Popular cryptocurrency exchange Binance, has been having conversations with social media giant, Facebook. Facebook may However, ultimately desire a secondary market, according to Chao and he additionally said:. Any time a company with the weight, size, resources, and impact of Facebook gets involved, it validates both blockchain and [cryptocurrencies]. Already, facebook has some big names on board like Visa, Uber, eBay and Lyft who have reportedly taken up some onus of the project by way of the nodes Facebook has said it will have eventually. Chainlink Trading to be enabled on Coinbase Pro.

LC price is down So, it is impossible to mine Libra.

libra coin

Binance Labs is a social impact fund, an initiative to incubate, invest and empower top blockchain and cryptocurrency entrepreneurs, projects, and communities. Its support in Libra Credit aims to address the growing global demand for liquidity of crypto assets based on the Ethereum blockchain. Libra is going to build a distributed lending ecosystem that facilitates credit at any time and anywhere. Users can collateralize their cryptocurrencies for credit in varying loan denominations. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Libra (LC) is Migrating to Binance Blockchain (BEP20). Know Why.

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The Week: Binance Restricts US Users and Facebooks Libra Attracts High-profile Backers

Diem, formally known as Libra, is an upcoming global payments network that is expected to launch in The Diem Network will operate using the Diem Blockchain, a new blockchain designed to be highly scalable, secure and flexible. According to its whitepaper , the mission of the project is to develop a financial infrastructure that "empowers billions of people.

Facebook's Libra cryptocurrency to launch in January 2021

Digital payments is a space with a lot of opportunities. As more and more people are getting access to the Internet through cheaper smartphones, much of the economic activity is happening online. Companies like Paypal, Visa, and MasterCard are already catering to a lot of this activity. In addition, many projects in the crypto space are also trying to build products for this sector. Unlike other projects, however, Facebook already has a large user base. Well, large may be an understatement.

The token, scheduled to launch in the second half of , has the potential to greatly widen financial inclusion in Kenya and Africa, says Ndemo, who has been travelling the continent seeking to convince governments of the merits of the Blockchain technology on which Libra will rely. The Libra Association says the token will provide banking to the unbanked, and offer lower transaction costs and faster settlements.

Crypto industry might greatly benefit from Facebook's Libra coins adoption, according to Binance Research , the research arm of the major crypto exchange Binance that has its own interests in the stablecoins business. If these were to happen, Libra could become an alternative to existing stablecoins, which would result in an increased competition among existing market participants. Nonetheless, this would prove "massive[ly]" beneficial for the rest of the crypto industry, as the adoption would increase. If it happens that Libra opens access to third parties and keeps a user-friendly interface, "benefits to financial inclusion could be significant, and ultimately reshape the global payment industry," argue the researchers. That said, these Libra Coins would compete with existing crypto projects on non-trading use cases such as remittances, programmable currency, and other applications. However, its adoption would be prevented in the emerging sectors, e. Additional regulations for all levels of Libra and all it comes into contact with will most likely be imposed, both internally and externally, and the payment system will probably have to comply with stricter criteria created by the Bank for International Settlements BIS.

There is an advantage of issuing widely-available programmable currency, which could lead to efficiency gains. Technology entrepreneur Elon Musk, the founder of SpaceX, was mentioned in the report as an industry leader in the space sector due to its significant step forward in improving speed for rocket journeys. The report also highlighted that most payment systems are operated by a central bank and of regional scope, as Libra could have an advantage has it could potentially have a wider reach of users. One of the major updates of the Libra whitepaper is that it explicitly mentions the limits of what users are able to do on the network, including balance and transaction limits, and the network would only be accessible to regulated crypto firms in the beginning.

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  1. Kigarn

    Thank you for the information, now I will not make such a mistake.

  2. Saffire

    Bravo, the perfect sentence just engraved

  3. Ayabusa

    And how to understand