Updated:02:00 PM EST Jan 20


this is ggmania.com subsite Facebook-Led Group Launches a Cryptocurrency for Consumers - TechAmok

TOP STORIES

HEADLINES

490+ kilometers per hour - Bugatti Chiron
NVIDIA's Next-Generation Ampere GPUs to be 50% Faster than Turing
What If Earth Was Hit By A Grain Of Sand Going Light of Speed
i9 10900K is up to 30% faster than the i9 9900K
You Can Still Upgrade To Windows 10 For Free
KENOBI - A Star Wars Fan Film
Breaking Into a Smart Home With A Laser
Gorilla Suddenly Punches Glass
Extended Security Updates will extend to 2023 for MSE on Windows 7
The best pics on the Internet #270
The best pics on the Internet #269
Who pays the lowest taxes in the US?
InvisibleShield Offers Camera Lens Protection
The best pics on the Internet #268
Dangerous tattoo remover from eBay is a MILLION watt laser
AMD Announces the Radeon RX 5500 XT Graphics Card
Apple sues former chip designer for breach of contract
How to Extend Your Windows 7 Security Updates Past January 2020

GeForce RTX 3080 / RTX 3070 'Ampere' Graphics Cards Detailed?
We Left Teeth In Coke For A Week (EXPERIMENT)
GOLDMAN v SILVERMAN
Watch A SpaceX Falcon 9 Rocket Explode After Takeoff
Guy Jumps Into The Water Holding A Ball, Nearly Launches It Into
Rare Moments of Referees
Heres how just four satellites could provide worldwide internet
Watch chemical bonds forming and breaking in a molecule
Joe Biden wants to revoke Section 230
IGORRR - VERY NOISE
A Gibbon's Screams Are Very, Very Weird
Lock Makers, Please Stop!
Guns Akimbo - Official Trailer
NVIDIA GeForce 442.01 Hotfix Driver
AMD Releases Radeon Software Adrenalin 20.1.2 Drivers
Samsung Galaxy S20+ shown off in hands on video
Serious security vulnerability in a core cryptographic component
Microsoft's Windows 7 Reaches End-Of-Life

Facebook-Led Group Launches a Cryptocurrency for Consumers - [briefly]
12:04 PM EDT - Jun,18 2019 - post a comment

Facebook today announced Libra, a new digital currency that aims to combine the best features of other cryptocurrencies in order to be more consumer-friendly. The currency will be administered by the Libra Association, a new non-for-profit based in Geneva. Founding members include Facebook, Mastercard, Visa, PayPal, Stripe, eBay, Lyft, Spotify, Uber, Vodafone Group, and Coinbase, as well as non-profit and academic members. Facebook's new Calibra subsidiary will create a Libra wallet app. The Calibra wallet will not require a Facebook account and Calibra will not share transaction data with Facebook. Third parties will also be able to create their own Libra wallet apps. Users will be able to exchange local currency for Libra (and vice versa) through these wallet apps, and at physical locations. The local currency will be transferred to the Libra Association to provide 100% backing for Libra currency. Interest on those deposits will pay for operating expenses, investments in the ecosystem, engineering research, and grants to non-profits and other organizations. Excess interest will be distributed to founding members. Libra transactions won't carry the high fees that credit cards do, although a small (less than one cent) transaction fee will deter certain spam and denial attacks. The symbol for the Libra is ≋ (three wavy lines). The value of a Libra is tied to a basket of deposits in historically stable international currencies, which can be rebalanced to keep the Libra stable. The Libra's starting value will be close to one dollar, euro, or pound. Libra is much faster and more efficient than Bitcoin, able to handle 1,000 transactions per second and designed to scale much higher. When a transaction is submitted, each of the Libra nodes, run independently by Libra Association members, runs a blockchain calculation. Two-thirds of the nodes must come to consensus that the transaction is legitimate for it to be executed and written to the blockchain. Facebook's Calibra will implement Know Your Customer rules in the sign-up process to prevent fraud, requiring a government-issued photo ID, for example. The Libra Association will incentivize other wallet providers to do the same. Libra is launching a limited test network today. When Libra launches to consumers in the first half of 2020, Facebook will launch Calibra as a standalone wallet app, but also as a feature within Facebook Messenger and WhatsApp on both Android and iOS.

Short overview of recent news articles

Jan,14 2020 Giant Boeing 747 Vertical Takeoff
Jan,13 2020 E:60 - Meet 'The Michael Jordan of Dogs'
Jan,13 2020 Marcin Patrzalek: Polish Guitarist MURDERS His Guitar!
Jan,13 2020 Disturbed - Down With The Sickness in 20 Styles
Jan,13 2020 Samsung XCover Pro Targets Businesses
Jan,13 2020 Microsoft will support Edge on Windows 7 for at least 18 months
Jan,11 2020 Samsung's booth: the Galaxy Chromebook, The Wall, and more
Jan,11 2020 Dell Shows Off Foldable and Dual Screen Laptops at CES
Jan,11 2020 Google Pay Now Supports Student ID Cards
Jan,10 2020 This Byton electric car has a 48-inch screen
Jan,10 2020 AMD Releases Radeon Software Adrenalin 20.1.1
Jan,09 2020 Intel Unveils Xe DG1-SDV Graphics Card
Jan,09 2020 Brahms: The Boy 2 - Official Trailer
Jan,09 2020 New Shock-Absorbing Material for Phone Cases Doesn't Block 5G
Jan,09 2020 BIRDS OF PREY - Official Trailer 2
Jan,09 2020 Samsung's T7 Touch Portable 2TB SSD has fingerprint scanner
Jan,08 2020 Europe's Strongest Man 2019
Jan,08 2020 Locke & Key - Official Trailer
Jan,08 2020 Intel Xe DG1 discrete graphics demo
Jan,08 2020 NVIDIA Ends Quadro Driver Support for Windows 7 from Mid-January
Jan,08 2020 Iran: Boeing 737 with at least 170 on board crashes
Jan,07 2020 Google Assistant Gains New Speaking, Privacy Actions
Jan,07 2020 Bebe Rexha HOT Sexy Bikini Dance
Jan,07 2020 Ozzy Osbourne - Straight to Hell (Official Music Video)
Jan,07 2020 AMD Ryzen Threadripper 3990X Pricing
>> News Archive <<

TechAmok - Privacy Policy        loading time:0.01secs