Thoughts and Feedback on the Libra Whitepaper Announcement Yesterday

Thoughts and Feedback on the Libra Whitepaper Announcement Yesterday

By Mark Anstead | Fun & Games | 19 Jun 2019


Just spent some time going through the new Libra whitepaper yesterday, and it's no surprise that they aren't doing anything special or new by any means.

I did see something that was interesting- they look to be the first network to go from entirely permissioned to become permissionless in about 5 years. Also seems that they are looking to solve the same issues that Ethereum have been solving over the last few years to become Proof of Stake. Lol. Wonder who will solve the "unsolved problems" first!

Also, lots of unanswered questions re fees for transactions (which still hasn't been announced) and how KYC will be enabled (everyone who uses their wallet will be required to complete KYC). Building at the protocol level doesn't but using their current solutions will. Little interesting. One of the other big questions is how censorship will be impacted on their network and if anyone can build what they want without it being removed from their network.

They continue to reference themselves as a blockchain, which is probably the weirdest thing that they're doing- probably just to gain attention. What they're building isn't even a blockchain. It doesn't seem like they're creating a chain, or even a chain of blocks. They're using just a bunch of signed ledger states.

 

I'm curious to hear some of your thoughts and feedback regarding the release and the whitepaper. Lots of concern for this on my end, and would love to know what you have to say about it- both positive and negative.

 

Libra Whitepaper: https://libra.org/en-US/white-paper/#the-libra-blockchain


Mark Anstead
Mark Anstead

Co-Founder of Numio


Fun & Games
Fun & Games

Lots of fun :)

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