{"id":3262,"date":"2019-07-15T10:52:47","date_gmt":"2019-07-15T10:52:47","guid":{"rendered":"http:\/\/www.citiusminds.com\/blog\/?p=3262"},"modified":"2021-02-09T09:33:05","modified_gmt":"2021-02-09T15:33:05","slug":"libra-cryptocurrency-by-facebook-in-5-minutes","status":"publish","type":"post","link":"https:\/\/www.citiusminds.com\/blog\/libra-cryptocurrency-by-facebook-in-5-minutes\/","title":{"rendered":"Libra: Cryptocurrency By Facebook (In 5 Minutes)"},"content":{"rendered":"\n<p>It\u2019s been a while since Facebook announced its project Libra, a global cryptocurrency. The motive behind launching Libra is vivid, to create a universal cryptocurrency that is accepted across the globe. There are 1.7 billion people across the world who don\u2019t even have a bank account or access to any financial system. Facebook believes that Libra has the potential to be a solution to this issue. <\/p>\n\n\n\n<p>Libra runs on decentralized <a href=\"https:\/\/en.wikipedia.org\/wiki\/Blockchain\">blockchain<\/a> technology which is designed to meet three significant requirements and they are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It should be adaptable and flexible\nto cope up with the future innovations and regulating requirements.<\/li><li>It is impossible to manipulate or\nhack the Libra blockchain as it is highly secured.<\/li><li>It should have the ability to\nmaintain billions of accounts.<\/li><\/ul>\n\n\n\n<p>Even though Libra is launched by the reputed social media giant, it does not control or look after Libra. Libra is controlled and regulated by its association called The Libra Association. The <a href=\"https:\/\/libra.org\/en-US\/\">Libra<\/a>\nassociation is a group of companies that are founding members of Libra. There\nare 28 companies which busily take part in the association and the strategy is\nto reach a total of 100 members who will act as the validators of the Libra\ncurrency.<\/p>\n\n\n\n<p>Libra is backed by the most popular\nbusiness organizations in the world. To get a hand on this new-age currency,\nyou have to pay through cash in your basic local currency and you will get\nequivalent amount to your cash in the form of Libra and like various other\ncurrencies which we use in our regular lives, we can exchange our Libra to pay\nbills, grocery stores, movies, etc.<\/p>\n\n\n\n<p>The software used for developing Libra is a new programming language called Move; it is used to execute and develop decentralized finance, smart contracts, and transaction logic.<\/p>\n\n\n\n<p>The folks at <a href=\"https:\/\/mrbtc.org\/\">Mrbtc.org<\/a> have developed an interesting infographic about the various Libra facts. You can also click on <a href=\"https:\/\/mrbtc.org\/libra\/\">Libra<\/a> to find the infographic on their website, we are excited to know your views.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"146\" height=\"2048\" src=\"https:\/\/www.citiusminds.com\/blog\/wp-content\/uploads\/2019\/07\/Libra-Cryptocurrency-By-Facebook.png\" alt=\"\" class=\"wp-image-3263\" srcset=\"https:\/\/www.citiusminds.com\/blog\/wp-content\/uploads\/2019\/07\/Libra-Cryptocurrency-By-Facebook.png 146w, https:\/\/www.citiusminds.com\/blog\/wp-content\/uploads\/2019\/07\/Libra-Cryptocurrency-By-Facebook-73x1024.png 73w\" sizes=\"(max-width: 146px) 100vw, 146px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Source: <a href=\"https:\/\/mrbtc.org\/\">Mr. BTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s been a while since Facebook announced its project Libra, a global cryptocurrency. The motive behind launching Libra is vivid, to create a universal cryptocurrency that is accepted across the globe. There are 1.7 billion people across the world who don\u2019t even have a bank account or access to any financial system. Facebook believes that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,19],"tags":[77,147],"class_list":["post-3262","post","type-post","status-publish","format-standard","hentry","category-infographics","category-latest-from-the-greatest","tag-facebook","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/posts\/3262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/comments?post=3262"}],"version-history":[{"count":0,"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/posts\/3262\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/media?parent=3262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/categories?post=3262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.citiusminds.com\/blog\/wp-json\/wp\/v2\/tags?post=3262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}