If you know a little about blockchain, you must be aware of the double-spending problem too which occurs when the blockchain network is disrupted and the crypto is stolen or in other words, double-spent. What happens actually is the thief duplicates the transaction and makes it look legitimate. It is not easy to double spend and hence the practice is not common however it does occur. Blockchain ends the double-spending problem through the use of consensus mechanisms like proof of work that is carried by decentralized networks of miners. The network not only helps maintain fidelity but detects double spending of the coin to prevent stealing.
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Decentraland is a decentralized augmented experience stage controlled by the Ethereum blockchain. Inside the Decentraland stage, clients will have the option to make, understanding, and adapt their substance and applications.
The limited, safe, 3D virtual space inside Decentraland is called LAND, a non-fungible computerized resource kept up in an Ethereum shrewd agreement. Land is separated into packages that are recognized via cartesian directions (x,y). These packages are for all time possessed by individuals from the network and are bought utilizing MANA, Decentraland's digital currency token. This gives clients full authority over the situations and applications that they make, which can go from anything like static 3D scenes to progressively intuitive applications or games.
A few packages are additionally sorted out into themed networks, or Districts. By sorting out packages into Districts, the network can make imparted spaces to basic interests and employments. You can discover a rundown of the first District Proposals on GitHub. The substance that makes up Decentraland is put away and circulated by means of a decentralized system while proprietorship and exchanges are approved on the Ethereum blockchain.
Zuckerberg came with his new idea of a global currency which works on the priciples of blockchain. Libra is cryptocurrency proposed by facebook but hasnt been released yet.Only the experimental codes and whitepaper has been published.In179 May 2018, it was revealed that Facebook is establishing a blockchain division that would run under the supervision of David Marcus, who had earlier overseen the creation of Facebook Messenger.
Libra is aiming to help the unbanked population which amounts to billions.The service is set to send money through whatsapp. Facebook's initial plan to launch in India is facing the challenge as India announced that Libra may not be even legal in the country.
Libra is built on a secure and reliable blockchain,it is a stablecoin and is governed by the libra association.Its smart contract programming is done through 'Move' programming language.Facebook has built a digital wallet called “Calibra” which will be used to interact with Libra. Users will be able to send Libra via their smartphones by using Calibra.
The difference between Libra and other cryptocurrencies like Bitcoin is that Libra is a stablecoin that is its is backed by physical assets called the Libra reserve which include real assets like bank deposits,and securities which are less volatile.This means that Libra is not volatile like bicoin.Another thing is that libra is looked over by the Libra association which makes it a permissioned cryptocurrency.So193 Libra is not decentralized in essence but bitcoin is decentralized.
Libra was slated to release in the beginning of 2020... (More)