Sirwin
Sirwin

FACEBOOK LİBRA COİNS AND BİTCOİN


They often ask what are the differences between Bitcoin and digital currency Libra.

In this guide, we will compare Bitcoin and Libra and reveal the differences between them. First of all, we can say that Bitcoin and Libra are different projects that serve very different purposes, use different technologies and are different from each other.

Different Objectives and Priorities
It is enough to read the first sentence of each project's white paper to understand its aims and priorities.

Bitcoin (Crypto Money): A fully peer-to-peer electronic money system makes it possible to send online payments from one side to another without going through any financial institution.

It is necessary to pay attention to the keywords and word phrases in this sentence. Keywords and vocabulary: reliable money without intermediaries, peer-to-peer, direct and financial institution.

Bitcoin design prioritizes creating a payment network without reliable intermediaries over ease of use, stability or scalability. The issue addressed in Bitcoin's white paper is that people should have access to efficient and fast online payment technology, but these payments work from person to person, and payments can be made without relying on any intermediary institution or government.

Bitcoin is a technological response to insecurity in companies and nation-states, and even if a country's administration is bully, the country's businesses and companies are designed to work for citizens of such a country, even if they are unreliable or monopolistic.

Libra (Digital Money): The purpose of the Libra Blockchain is to serve as a solid foundation for financial services, including a new global currency that can meet the daily financial needs of billions of people.

Note that this sentence is about scaling and access only. Libra must meet the needs of billions of people; there should be a solid foundation for various financial services, not just cash-like payments; and it must be global. Libra's goals are scale and inclusion rather than relying on trustworthy intermediaries.

Both projects recognize that there is a problem in the current global financial system. But;

The problem Bitcoin wants to address is the power of intermediary institutions and states in this system and the danger posed by this power.
The problem Libra wants to address is the inadequacy of intermediaries in this system.
Different Technologies Used
Bitcoin and Libra both use distributed ledger technology (Blockchain technology) to record payment transactions between users. In short, both projects aim to create money by sharing data over the internet. This is the common feature of both cryptocurrencies in general.

Bitcoin is the first concrete example of a broad class of innovation called cryptocurrency. It is money based on economic scarcity that any of the transactions recorded in the account book that is resistant to obstruction can write (can read and add incoming data).

In other words, the Bitcoin book is public and does not belong to someone or someone (unauthorized). Libra is the latest member of an older technology class, often called digital currencies. Transactions that are recorded in a ledger are the counterpart to trust in an issuer that everyone can access and view, but only an authorized company can replace the whole. In other words, the notebook is public and belongs to someone or someone (on leave).

Cryptocurrencies are defined by not trusting trusted intermediaries. It is clear that these terms are not cryptocurrencies, even though they are not formal or indisputable, due to Libra's use of an allowable ledger and its dependence on a trusted issuer to keep and manage its currency. Libra is an airline's milestone, gold in the World of Warcraft, or Liberty Reserve, along with the dollar, is part of the vast digital currency industry.

Bitcoin's main goal is to eliminate the need for reliable intermediaries in online payments, while Libra's main goal is to make online payments easier, more inclusive and scalable.

If you want to trust an intermediary, then you may have a digital currency with a lower price fluctuation (because the supply can be adjusted in response to changes in demand). If you want to trust the allowable community of transaction certifiers, fewer people or institutions need to agree, so you can ensure that transactions are verified faster and on a larger scale. These are the assumptions in Libra's architecture.

Bitcoin, due to its architecture, remains largely indifferent to these goals of Libra. There is no trust in brokerage houses or companies in Bitcoin. This means that Bitcoin will be more volatile (high volatility) in terms of price, or a few thousand transactions per second cannot be performed on the Bitcoin Blockchain.

These choices also mean that the assets of each project

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FACEBOOK AND LİBRA COİN
FACEBOOK AND LİBRA COİN

What is Libra, What Is It For? Social media giant Facebook describes Libra as the “internet of money” by stating that the world needs a reliable digital currency and infrastructure. In Libra white paper, where it is pointed out that securing financial assets in a mobile wallet should be simple and intuitive, the good news is that transferring money worldwide will be as easy and cost effective as sending a text message or sharing a photo. It is also stated that costs will be reduced and frictionless / inv

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