Blockchain applications Development

In 2019, the phrase, “...to the Moon” is no longer limited to water cooler talks at NASA or any other space agency. The statement has been appropriated by the cryptocurrency community and has developed a metaphorical meaning that is finding its way into everyday conversations or memes. Any hodler would use it to define a phase when the price of a cryptocurrency is peaking. With the cryptocurrency market experiencing an updraft, it is highly possible that you may have heard this phrase sometime in the past few months. Take for instance the Bitcoin, whose surge since April 2019 has seen the coin rise as high as $12900! Other cryptocurrencies and altcoins have a similar tale to share. Interestingly, this recent surge can in no ways be compared to that of the 2017 bubble, that was fueled by a greater fool-esque demand. Today, with more and more people understanding the underlying benefits of cryptocurrency, it is gaining more acceptance and experiencing an organic growth. 

News of Facebook entering the blockchain universe with the cryptocurrency it co-founded with the Libra association has spread like wildfire. Libra, that’s what they’re calling the coin, is a proposed virtual currency said to run on a permissioned blockchain. It is said to be a means of payment between people across the globe similar to the likes of PayPal and Venmo.  Purpose Its vision is to empower the part of the world that does not have bank accounts by enabling peer-to-peer transactions. For the storage of this currency, Facebook has developed Calibra, a wallet app. The wallet is expected to launch in 2020 with its own app and even on platforms such as Whatsapp and Messenger.  Calibra will allow its users to send, receive, and store Libra securely. The main attribute that makes Libra appeal to the crowd is the lack of transaction fees charged when it is exchanged although there is a sum charged to use the currency.  Trust  Trust is a major issue that the coin will face