Facebook Project Libra: Testnet Logs More Than 51,000 Transactions

Facebook was recently in the spotlight when Ripple’s CEO, Brad Garlinghouse, highlighted his concern about the project.

He’s blaming the social media giant Facebook for all the backlash that this project is getting these days.

He said that he is worried that regulators will hurt the crypto space due to their challenges and distrust of Facebook and the Libra project.

The Libra testnet has logged over 51,000 transactions

The project Libra is building a global community of developers and technical infrastructure as the controversial crypto is in the works.

Regulators have been making increased efforts to slow down the project and, if possible, even stop the launch.

The Libra testnet is based on a permission blockchain unlike Bitcoin and other digital assets.

It has logged more than n51k transactions since it has been reset in September.

21 members are still supporting the project

After the Libra Association, lots a lot of companies that were supporting it amidst regulatory pressure, there are 21 remaining members, which include Facebook.

They signed the association’s official charter in Geneva, Switzerland, last month.

The online pubcalition the Daily Hodl revealed that the organization is praising the passionate community of developers who are moving this project forward.

An official blog post reveals the following:

“Our community of developers has responded enthusiastically, logging an amazing 34 projects in just seven weeks since the launch of the testnet:

  • 10 wallets
  • 11 blockchain explorers
  • 2 IDEs
  • 1 API
  • 11 clients

2

Hoping to have a successful launch of the mainnet

Libra’s development update last month was stated that “Following the Testnet, we hope to have a successful launch of the Libra Mainnet. One method we use for tracking the project’s success is how many of the deployed nodes are managed by different partners.”

The official notes also revealed that the main goal of the mainnet is for “all partners to have nodes deployed on the network.”

It’s believed that a wider diversity will bring more resiliency to the Libra network.

You should check out Libra’s latest update in order to learn more details. It’s dated November 15.

People Mentioned

Brad Garlinghouse

Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

Coins Mentioned

BTC

Bitcoin

Classic Editor
Icon
CEX.IO

Website

Icon
Coinbase

Website

Icon
Binance

Website

Icon
FortuneJack

Website

Icon
SportBet.io

Website

Block Editor
Icon
7bitcasino

Website

Icon
BitStarz

Website

Icon
1xBit

Website

Icon
Nitrogen Sports

Website

Trending news

Binance Exchannge

Trending news

Top Exchanges
Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1795 Articles