What is Facebook Libra Crypto Coin?

FACEBOOK LIBRA CRYPTOCURRENCY

10 Amazing Facts You Should Know about

Libra is the “internet of money”. The internet is here to stay and so is the internet of money. You might not understand how Facebook Libra works. But how many people and business owners are interested to invest in Libra crypto coin in the future?

Out of all cryptocurrenices, Facebook libra crypto coin make biggest market cap in the crypto space.

Facebook Libra coin, the King of cryptocurrencies inevitably becomes a hot topic of conversation and a frequent point of discussion among traders, investors, entrepreneurs and startups.

But…

Many people still don’t know about birth of Facebook Libra Coin In this blog, let’s check out 10 amazing facts about Facebook Libra crypto coin. Hopefully, this awesome interesting facts will help you to impress and creates some sparks in the crypto addicts.

Birth of Facebook Libra Coin: It all started with a 12-page white paper

“The name Libra comes from the word for a Roman unit of weight measure.

It’s trying to invoke a sense of financial freedom by playing on the French stem “Lib,” meaning free.”

Libra is a stablecoin-like crypto asset and a blockchain-based financial infrastructure project that is lead by social media company “Facebook”.

It’s built on an open-source blockchain called the Libra Blockchain highlighting its own proof-of-stake protocol.

The Libra mission is to reinvent money and transform the global economy so people everywhere can live better lives.

Libra Blockchain - Is it Centralized or Decentralized?

The Libra 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.

Backed by a reserve of various assets designed to give it intrinsic value, it is governed by the independent Libra Association tasked with evolving the ecosystem.

The Creators of Facebook Libra:Morgan Beller started working on cryptocurrency and blockchain at Facebook in 2017, at the beginning the only person working on Facebook's blockchain initiative.Facebook vice president David A. Marcus moved from Facebook Messenger to a new blockchain division in May 2018.

First reports of Facebook outlining a cryptocurrency, with Marcus in charge, emerged a few days later.By February 2019, there were more than 50 developers working on the project. Confirmation that Facebook intended a cryptocurrency first emerged in May 2019. At this time it was known as "GlobalCoin" or "Facebook Coin".

Libra was officially announced on June 18, 2019.

Libra Association The Libra Association is in charge for the system’s development. It is a Geneva-based non-profit organization that works on evolving and scaling the entire network by helping with the community and establishing relationships with lawmakers.

The libra association is accepting businesses, crypto investors, non-commercial companies and universities that fit a certain profile, but crypto-related participants should not exceed one-third of the total amount. Every participant will have no more than 1% of the votes to keep it fair. The minimal contribution fee is $10 million in exchange for the Libra Investment Token (LIT).

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10 Amazing Facts You need to k now about Facebook Libra Crypt o Coin

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