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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


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.







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