Review on Libra by francis fernandez
Libra: a secure platform for the exchange of assets and the development of a reliable payment system
In the search for the stability of the value of cryptocurrencies, there have been many associations and strategies that its founders have designed to avoid the volatility of the digital currency.
In this sense, they have been linked to assets of constant value or less volatile.
Thus was born another crypto project called Libra that seeks to link its price to other financial assets of more stable value.
Libra is a digital asset that serves as the engine to develop a decentralized payment system for the transfer of cryptocurrencies worldwide; that operates under the security and speed offered by blockchain technology.
Token:
The network's cryptocurrency is characterized by being a stable currency; since it is backed by financial assets that include the issuance of securities and cash.
This was done in order to decrease the stability of its value in the face of the volatility of the crypto market.
The digital currency despite its link to other low volatility assets has a changing value; since its value is established based on bank deposits and securities issued by government agencies or central banks.
Technology:
The Libra chain has an open source infrastructure that facilitates free access to creators who can use its network for the development of blockchain technology projects.
The platform incorporates a programming protocol called MOVE into its ecosystem.
The network has a robust system that provides scalability, security and speed to its operations, in addition to having important allied companies such as Facebook, Mastercard, Paypal, among others.
Utilities:
• Serves to send and receive digital money instantly from and to anywhere.
• Serves as a means of payment for the purchase of goods and services.
• It allows creating a secure financial ecosystem accessible to all.
Pros
- It is a scalable payment platform that allows fast transactions.
- It is a secure network that has the technological support of blockchain
- Serves for the transfer of digital assets globally
Cons
- Their value is changeable, depending on the financial assets that back them.
