Libra is simple global cryptocurrency developed on the Blockchain technology with a vision to empower millions of people around the world by providing them a platform to experience the world of digital transactions.
Some of the significant features of Libra are:
1) Libra is built on a scalable, secure and reliable blockchain.
2) Libra is a stable coin as it is backed by a reserve.
3) An independent non-profitable association regulates Libra. This association is known as the Libra Association.
4) Libra uses LibraBFT consensus mechanism.
5) Libra is developed using a new programming language called MOVE.
The Libra Association is the governing authority of the Libra Blockchain. It is a self-dependant non-profitable organization, the headquarters of this association is in Geneva, Switzerland.
This association is built to look after the operations of the Libra Blockchain. It helps in coordinating the agreement between validator nodes and stakeholders, to develop and expand the network and also to control the reserve.
The Libra Blockchain is a allocated process that both ownership of Libra and the exchange of Libra. It is an important thing that users of Libra should recognize the consonant view of the system. Otherwise, there is a chance of someone claiming he was paid when he had not even sent funds. This is termed as “double spending attack”.
The Move is a secured and well-written programming language used in developing the Libra blockchain. It is an executable bytecode language helps in processing smart contracts and transactions.
The security and expressiveness of Move have allowed executing important aspects of the Libra Protocol in Move, inclusive of validator management, Libra coin, and transaction processing.
LibraBFT is a well-structured and powerful state machine replication system developed only for the Blockchain.
To find more information regarding Libra, go through the following infographic developed by Karthik from Mrbtc.org. We will be glad to know your views on it.