Facebook has published its long-awaited Wallpaper cryptocurrency project. Stablon Libra will work on its own blockchain, a fixed price token will reinforce a set of Bank deposits and short-term government securities in Libra Reserve.

Project management will carry out a non-profit organization Libra Assotiation, the headquarters of which is in Switzerland. She previously received an investment from Mastercard, PayPal, Visa, PayPal, eBay, Coinbase, Andreessen Horowitz and Uber.

Features of the new stablon

The launch of the Libra to be held in the first half of 2020. By that time, Facebook plans to attract more investors in Libra Assotiation.

And although the full right to make decisions is reserved to the Association, Facebook will retain the lead over the Libra to the end of 2019. Facebook has created a Calibra, a regulated intermediary that will provide separation between the social and financial user data.

Libra Association is governed by a Board, whose members own node to validate transactions on the network stablon. To get this role, they invested in the project of at least $ 10 million. The equivalent of this sum gives the member of the Board one vote at meetings. Large investors can also buy Libra Investment Token is a separate token, which you can use to profit in the form of dividends.

Note that steamcon will not use the blockchain in its classical form. In the Protocol-based Libra is used some semblance of a unified data structure with all transactions. Alas, no magic blockchain and aroma of these cryptocurrencies.

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Udi Wertheimer@udiWertheimer

“Unlike other blockchains, Libra Blockchain isn’t a chain of blocks”

I’ll probably come back soon with more of my thoughts on the technical details behind Libra. But I really liked this part 😅

Since Libra is not tied directly to Fiat money, Facebook cannot guarantee immediate exchange of tokens for money. However, in wallpapere is a promise that the volatility stablein will be minimized. New tokens can be issued only Libra Association, though the assets for their reinforcements “are distributed around the world.”

The number of potential users of the coin — more than 2.7 billion people, it will be possible to carry out fast transactions in WhatsApp, Facebook Messenger and Instagram.

It is believed that a new cryptocurrency will dramatically change the situation on the market of cryptocurrencies,we have previously written about it .

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