Here is the quick rundown for all awating for news
White paper here
Technical paper here
developers.libra.org
Quick rundown:
1_Stablecoin
2_1000 transactions per second
3_Coins to be created and destroyed according to a reserve.
4_In order to have a node you need to enter that reserve as they are part of an organization.
Please all non retard user help in the technical paper if we get this right in the next two hours before burgers woke up we will be rich.
5_No chainlink it will have it's independently smart contract language called "move"
can you tell us where its mentionned in the white paper?
6_Validator selection.Like most services, the performance of the Libra Blockchain depends on theperformance of the underlying validators that operate it. There is a tradeoff between decentralizationand performance. Requiring extremely well-resourced validators limits the number of entities thatcould perform that role. However, the presence of extremely under-resourced validators would limitthe performance of the whole system.We favor a balance of these approaches by targeting nodes that can run on commodity hardware thatmany entities can purchase. However, we do assume that nodes run on server-class hardware andwithin well-connected data centers. We use an approximate analysis to show that the system is likelyable to meet the demand of 1,000 transactions per second.•Bandwidth: If we assume that each transaction requires 5 KB of traffic — including the cost ofreceiving the transaction via the mempool, rebroadcasting it, receiving blocks from the leader,and replicating to clients — then validators require a 40 Mbps internet connection to support1,000 transactions per second. Access to such bandwidth is widely available.•CPU: Signature verification is a significant computational cost associated with a payment trans-action. We have designed the protocol to allow parallel verification of transaction signatures.Modern signature schemes support over 1,000 verifications per second over a commodity CPU.•Disk: Servers with 16 TB of SSD storage are available from major server vendors. Since thecurrent state is the only piece of information the validator needs to use to process a transaction,we estimate that if accounts are approximately 4 KB (inclusive of all forms of overhead), thenthis allows validators to store 4 billion accounts.
This is good for bitcoin a true stablecoin blockchain , mempool confirmed so non larp crypto.
where can you buy this shit
"The Libra protocol allows a set of replicas — referred to as validators — from different authoritiesto jointly maintain a database of programmable resources. These resources are owned by differentuser accounts authenticated by public key cryptography and adhere to custom rules specified by thedevelopers of these resources. Validators process transactions and interact with each other to reachconsensus on the state of the database. Transactions are based on predefined and, in future versions,user-defined smart contracts in a new programming language called Move."
you can "buy" it on robinhood
it´s going to be a stable coin so it´s not going to moon as everyone with nodes will have to put a reserve to have a node basically coins will be created and destroyed so it won´t be inflationary nor deflationary.
It will release literally in the bitcoin halving.
Bitcoin 1M confirmed.
1_Account addresses.An account address is a 256-bit value. To create a new account, a userfirst generates a fresh verification/signature key-pair(vk,sk)for a signature scheme and uses thecryptographic hash of the public verification keyvkas an account addressa=H(vk).1The newaccount is created in the ledger state when a transaction sent from an existing account invokes thecreate_account(a)Move instruction. This typically happens when a transaction attempts to sendLibra to an account at addressathat has not yet been created.Once the new account is created ata, the user can sign transactions to be sent from that accountusing the private signing keysk. The user can also rotate the key used to sign transactions from theaccount without changing its address, e.g., to proactively change the key or to respond to a possiblecompromise of the key.The Libra protocol does not link accounts to a real-world identity. A user is free to create multipleaccounts by generating multiple key-pairs. Accounts controlled by the same user have no inherentlink to each other. This scheme follows the example of Bitcoin and Ethereum in that it providespseudonymity [19] for users.
It´s a true crypto fuck guys i am going to buy btc i will be back in some minutes.
1000 tx/sec is kinda shit for this.
There are only 100 validators so it's no better than any shitcoin built on top of DPoS except for that it's run by big corps
That's because it's a true crypto , it's not a cryptolarp as many expected , this is unironically moon for bitcoin.
Also this ammount of transaction levels were only done by xrp or premined coins , never by stablecoins.
This is massive good news for bitcoin.
paypal , visa , mercadopago , masterdcard , those 5 are already massive , also validators will own the reserve and will have to have a reserve to be validators.
How is this not a fucking centralized piece of shit? Are any of you actually reading this shit? It's permissioned. They have custodians with
(((investment-grade credit rating))) to provide both security and decentralization of the assets. The worst part is they're going to pull it off because normies are completely braindead. This is the end of the world as we know it.
How profit before burgees wake up??
>1000 tx/s
Libra BTFOd by the real bitcoin(sv)
>Stablecoin
It's shit
yes, even if EOS is considered as centralized it's still 100 times better than Libra
it's a crypto larp are you high?
backed by fiat and other low volatility assets
Verified by an internal validator network called libraBFT, only selected individuals are allowed to be validators
What is a blockchain about this? It's just a ledger with extra steps
Buy bitcoin unironically , we pass 10k today.
The emission and destruction of coins is centralized so is the mining but:
1_It's not premined like xrp
2_It can do 1000tx per second
3_It's a true crypto and you will be able to change your coins for other cryptos
4_The entire mining will be done by corporations that are the ones that pay the reserve.
I honestly would preffer bitcoin but this will open a gate to cash out cryptos like btc and buy them openly once the normie horde buy their stablecoins.
This is good for bitcoin.
Do you realize that bch has 32mb blocks because at that rate you would end up with 1.5 tb blockchain per year.
At bsv levels you end up with petabytes , not even zuckbucks could reasonable keep that working.
it's coins that will allow you to bypass regulators , literally tether on mass scale.
You don't have to buy this shitcoin, just be in decent projects when literally a billion normoids are forced to interact with crypto through facebook shilling it.
Instagram writes 10 petabytes per hour just for thot pics.
Storage is cheap, get over it corecuck manlet pussy ass mongoloid
I just realised the implication of this:
It is bad news for chainlink holders obviously that facecuck is using some bullshit fakeout validator but for bitcoin it's 100% bullish.
This means there will be another stablecoin that can prop up & raise the price of btc.
It releasing together with the bitcoin halvening means their financial directors obviously realised this and have probably been buying quite some bags between when they came up with this and now....
EXIT
ALL
ALTS
ALL IN BOOMERCOIN
Not with a fee market you retard , a fee market makes it very easy to spam literally shit transactions until you have a full block.
The us air aconditioning budget in afghanistan of 1 year could spam btc mempool for 50 years.
Only reason they don´t do it is because they would only make the hashrate grow as they give gibs to miner.
If you have bsv level blocks then they could reach petabytes size spaming 1sat transactions constantly non stop for every fucking day.
>This means there will be another stablecoin that can prop up & raise the price of btc.
It releasing together with the bitcoin halvening means their financial directors obviously realised this and have probably been buying quite some bags between when they came up with this and now....
Unironically this.
bump
>he thinks Chainlink is a smart contract language
are you retarded? Chainlink is middleware FOR smart contract languages. Keep your eyes peeled
Try to spam 1 GB block retard, you will give your money to miners and they will thank you for that.
Literal brain dead, this space is just retarded dead end zone
go back then faggot
bye bye
>KYC
It's a shitcoin that noone will use.
Who would go through a fucking KYC to own a stablecoin?
To be data-mined by Zuckerberg?
Would rather use DAI than Zuckbuck desu.
stop being a degenerate, teetotalism
It is clear in sight, there's no secret about it that only the cooperations running nodes will profit from Libra, to name a few Uber, Mastercard and Coinbase. How do you plan on making any profit on a "stable coin"? Also this may be the jewest crypto currency of all time, they have initially created their own blockchain for Libra alone; take a moment to cycle your mind around that, for all the open opportunities they have.
you
too
> How do you plan on making any profit on a "stable coin"?
They will sell the datas or exploit the user.
>spam literally shit transactions
corecucks still cant wrap their heads around actual utility lmao