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Donald Trump said that he was not a fan of Bitcoin (BTC) and that cryptocurrency was "huge" for the sector.

A few hours after the statement of the asset, the price of Bitcoin remained stable, then start to rise and reach a gain of 1% Friday.

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Facebook, is a Web2-based social network that has 2.4 billion active users, recently announced its entry into the Web3. "Facebook launches cryptocurrency" media introduced. Reality is more complex. Facebook plans to launch its own distributed registry, the token – Balance – and the Calibra portfolio manages a native token. Balance It is to be assumed that through the back door of this portfolio, the company decides to handle the future of global sovereign digital identities. Facebook users will be able to use Libra Tokens for their online purchases and P2P transfers via this wallet, for a "low to zero" fee. The white paper indicates that Libra, a stable token, leans against various fiduciary currencies. Serious competition for advanced technology providers and credit card companies. Maybe a pledge that will charge merchants up to 2.5% or more purchases. In addition, it could compete with money transfer companies used by many expatriates around the world to send money to friends and family in their home country.

Key elements of the Balance network:

Infrastructure

Libra operates on a distributed, federated, authorized large book as a security mechanism. which does not use "blockchain". Security arises from legal contracts between known actors of this federated network. A time-stamped chain of blocks is nevertheless very important without accountability networks such as Bitcoin or Ethereum. Where validators can join and leave the network at any time without permission.

Consensus

Since the Libra operates an authorization system. It can use a more productive consensus algorithm that does not need to process batch transactions. Because the transaction history is much less likely to work in a configuration of trusted network players. Balance uses a modified version of Practical Byzantine Fault Tolerance (BFT), an advanced and well-known algorithm. LibraBFT seems to be a consensual protocol fork.

Smart contracts

The Balance network is defined with intelligent contract capabilities. "Move" is the language of vernacular smart contracts. The question of whether it is logical to develop a new unresolved language. It is still unpredictable that the language is feature-rich and user-friendly for developers. Both aspects would address the issues of smart contract security and network resiliency. Like Ethereum, Balance smart contracts will be mandatory network payments for the code being executed. This means that all transactions require the payment of the Balance as a network transaction fee.

Network governance

As an authorized ledger, only network members can validate transactions. "The founding members are consortia with an established reputation, which makes it unlikely that they act maliciously," says the white paper. These activities range from traditional payment networks. (Mastercard, Visa) to the internet and giants of the big economy (eBay, Lyft) to blockchain inhabitants, (Xapo) to VCs (Andreessen Horowitz, Thrive Capital) ". Other partner nodes range from non-profit organizations to Paypal, Uber, World Banks, Mercy Corps, etc. The Libra Association is headquartered in Geneva, Switzerland, and currently has close to 30 stakeholders.

Conclusion

Facebook is planning to launch a cryptocurrency. She hopes to "transform the world economy". As shown in the current Facebook talk with the CFTC. The era of unregulated digital assets is over: ICOs currently collect 58 times less than a year ago, while STOs have risen 130% in the first quarter of 2019.

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