What is cryptocurrency? Know Everything About Facebook Libracoin

Hello friends! today's in this post we will talk about Facebook Libracoin, Like- What Is Cryptocurrency? What is Facebook Libracoin? What is Facebook Libra Cryptocurrency (What is Facebook Libra) | What is Libra Blockchain? | Who are the creation members and partners of Facebook Libra Coin | Features of libra crypto codon | What is the programming language of Move: Libra? | Which company has announced the launch of a digital currency called Libra? | How is Facebook Libra Cryptocurrency stronger than Bitcoin? | What is the difference between Libra and Bitcoin?

What Is Cryptocurrency? What is Facebook Libracoin?

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What is Facebook Libracoin?

If you also know about Crypocurrency in advance then you may have heard about Facebook's Libra Cryptocurrency, because recently when Facebook announced about their cryptocurrency Libra Coin, then everyone got this news big. Surprised. This is probably because never before has a large campany created any cryptocurrency. At the same time, the announcement of this new cryptocurrency by Facebook created a stir in the entire crypto world. 

All around, only this new virtual currency is being talked about. While experts in cryptocurrency are arguing over this new Facebook Libra currency, some entrepreneurs are thinking of ways to earn a lot of money from it. Since it is going to be "all over the world", it has also got the name of Global Coin. 

When many people requested us to tell us something about this Libra Cyptocurrency, then we thought that you, not even this new Facebook Libra - Some information about Coin in hindi should be shared so that you can also know about this new currency, so let's start without delay.

What is Cryptocurrency?

Cryptocurrency is a type of digital or virtual currency is It is specifically designed as a medium of exchange. It uses cryptography technology to securely verify transactions, in addition to the number of units of a particular cryptocurrency. It was thought that cryptocurrencies are such limited entrles in a database that no one can change, unless certain specific conditions are met. Bitcoin, for example, Ri pple, Ethereum etc.

What is Facebook Libra Cryptocurrency 

Let's recognize what the definition of LibraCryptocurrency is - according to report, "Libra is a simple global currency and financial infrastructure that has the potential to empower billions of people. The core of the Libra currency is that the 5 essential elements or features. :

  • It is built in a secure, scalable, and reliable blockchain.
  • It is a stable coin which is backed by a reserve of assets,
  • It is governed by independent Libra Association,
  • It uses LibraBFT consensus mechanism.
  • Smart contract coding is done by "Move"
  • programming language.

What is Libra Blockchain?

This Libra blockchain is not really a blockchain. If you look at it in the traditional way, then the Facebook team decided that they will code their chain from scratch (so that they can meet some requirements). Let us know about those needs:

  • It should have the ability to scale to billions of accounts. At the same time, it requires high transaction throughput, low latency, and an efficient, high-capacity storage system.
  • It should be highly secure, so that funds and financial data can be kept safe.
  • It should be flexible, so that it can run the entire Libra ecosystem's governance, as well as bring future innovation in financial services.

Who are the creation members and partners of Facebook Libra Coin?

Let us know the names of all founding members and partners who are connected to Facebook's currency .

  • Andreessen , Anchorage , Booking Holdings Inc., Facebook Calibra, EBay Inc. , Iliad SA Free, Mastercard, PayPal ,Ribbit Capital ,Stripe ,Inc ,Union, Square ,Ventures , Visa , Xapo , Kiva, Women's World Banking,
  • Horowitz , Bison Trails, Breakthrough Initiatives, Coinbase Inc. , Farfetch Ltd. , Lyft Inc. , MercadoLibre Inc.'s Mercado Pago, Naspers Ltd.'s PayU , Spotify Technology SA, Thrive Capital, Uber, Vodafone Group ,Creative Destruction Lab, Mercy Corps , Facebook.

Features of libra crypto codon

Let's know about the features of Libra currency.

Will be mobile friendly: Libra cryptocurrency will be made in such a way that you will be able to use it easily on your smartphone, which will be very easy for everyone.

It will be quite stable: where you can often see that cryptocurrency is not very stable but the Libra has been built in such a way that it will try to keep its value as stable as possible so that the market fluctuation will not affect it.

Will be quite trustable: Since there are many other companies associated with Facebook, it will be quite trustable compared to the others.

Will be fast: Transactions on Libra will be quite easy and fast, here, whether you transfer in the transaction or pay anywhere, the transaction will be very fast in all places.

This is for everyone: Since Libra is a global crypto currency, it is not going to be limited to any one country, but it will be used in all the world. At the same time, the best thing is that its value will remain the same in all places.

Security quite good: they're rather more secure currency than alternative Cryptocurrency. This is because Libra is a cryptocurrency that is built on a blockchain with security in mind.

What is the programming language of Move: Libra?

"Move" could also be a brand new programming language designed to implement custom group action logic and "smart contracts" in Libra Blockchain. The most important priority of Move is that, it provides smart contracts with a high degree of security. At the same time, Move uses the approach of functional programming languages.

Which company has announced the launch of a digital currency called Libra?

Facebook company has announced the launch of digital currency called Liba.

Benefits of Libra Coin 

Benefits of Libra Coin Let's now consider the advantages of Libra Coin,

  • Money transfer will be easy: Although Libra cryptocurrency is a virtual currency, so you can use it to transfer money very fast using its app, while your transaction charges are also very low if we compare it to banks.
  • Low Commision will be: In a physical transaction that we do in banks, we have to pay a commission of around 5% to 7% or more. At the same time, in Libra cryptocurrency, we have to give a very low commission during any kind of money transfer, this will rid us of unnecessary commission.
  • All types of online payment can be done: In today's time we use online transactions the most. In such a situation, if you use the Lina app, then you can easily make any payment online, whether you are shopping or any kind of online payment, you can use them in all places.
  • Use of Blockchain: Since it is connected to a blockchain, it has the ability to process many transactions simultaneously. At the same time, it will be very "safe and secure" due to Libra being a blockchain.
  • It will be quite secure and stable: Since many other companies are associated with Facebook to provide backup to Libra. Get libra blockchain fee protection.

Therefore, this currency will be much more secure and stable. While bitcoin is not as stable.

How is Facebook Libra Cryptocurrency stronger than Bitcoin?

By the way, both Libra and Bitcoin are cryptocurrecy. But, Libra is stronger than Bitcoin. Is its The main reason I think is that the Libra has with Facebook, there are also 28 other companies as well. Whereas Bitcoin is a completely decentralized currency. If I talk about these companies then all of them are very big Includes companies such as Vodafone, MasterCard, Pay Pal, eBay, Visa, Shopify, Calibre, and Uber. This gives an unhealthy investor a chance to invest in it.

What is the difference between Libra and Bitcoin?

  • Bitcoin Bitcoin is fully Decentralized. Not a single single entity controls it. Whereas, Facebook and Libra association have a lot of control over its asset and usage.
  • The price of Bitcoin does not depend on any single government. Like physical currency.
  • Whereas Libra depends on all other national currencies and stable assets.
  • Bitcoin is deflationary because only 21 million bitcoins can be in the whole world, not more than that.
  • While Libra is controlled by the Libra Association, it depends on the demand and supply.
  • Blockchain is allowed so miners can start mining whenever they want.
  • Whereas in recent times, libra are blockchain permissioned, miners have to take permission before starting mining.

What you learned today,

I hope you have liked this article of my Facebook What is Facebook Libra Cryptocurrency. It is always my endeavor that the readers get complete information about Libra Coin in Hindi. Provided that they do not have to search in any other sites or internet in the context of that article. This will also save their time and they will also get all the information in one place. If in your mind If there are any doubts about this article or you want that there should be some improvement in it, then you can write down comments for it. More if you liked this post libra coin in Hindi or got something to learn then please Share the post on social networks such as Facebook, Twitter and other social media sites.

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