cryptocurrency libra

51,000 Transactions for Facebook Cryptocurrency Libra


November 20, 2019

Cryptocurrency remains always in limelight due to any of the reasons. You might have listened to the cryptocurrency news on an almost daily basis. But from the last few months, one of the popular virtual currencies Libra has attracted a lot of attention. Libra is none other than Facebook’s own cryptocurrency. The news regarding the Libra has spread just like the fire in a forest. Even it continues to meet with great resistance especially in Europe and somewhat in the United States.

Despite all the clauses and reasonings, Libra has pushed the development of its own test network with the other technical features. Alike the bitcoin customer wallet, the Libra has gained good popularity amongst the users.

Libra Broke the Record of 51,000 Transactions

In a recent blog from the Libra Foundation, it was mentioned that more than 51,000 transactions have been logged in since the launch of the test network i.e. on September 17th, 2019. It has been less than a month that all the Libra members have signed the statutes of Libra in Geneva. Since then date Libra has built the technical infrastructure and working on the developer’s incentive model.

Not only this, the developer community has finished 34 projects in advance of seven weeks. These are:

  • 10 wallets
  • 11 Blockchain- Explorer
  • 2 IDE’s
  • 1 API
  • 11 customers

The developers who wish to have a look at the various functionalities of the Libra network can ask for access to the Pre-Mainet. It is one of the software to detect the bugs and allow the testing mode to correct or identify the issue. The software includes:

  • Deployed nodes: 7
  • In-process nodes: 6
  • In process nodes with the technical executives: 8

However, Libra is working on a strategy to integrate the companies. The ones who don’t have their technical teams but still want to use Libra. The full functionality of Libra Core will be available to the user by 2020. To know more about Libra, contact the customer support number 1-833-313-7111.

But the question arises is –

Will Libra Begin in 2020 Despite of All The Resistance?

Libra has been criticized by the American investors and by many institutions. The issue is arising due to the trust problem as Facebook is in the headlines from the past few weeks due to several misleading scandals. On the other hand, the European Union continues to see the Libra with a question mark. Thus, they are going to launch its own counterpart, the Euro coin. This will be going to handle and managed by the European Central Bank. However, there is no such final decision on this step.

The challenge is to see will the Libra going to sustain the cryptocurrency market and capture the 2 billion Facebook users or not.

However, such news regarding the Libra and different cryptocurrencies will always prevail in the market irrespective of their pros and cons.