No, India's Supreme Court has now permitted banks to deal with cryptographic money exchanges from trades and brokers, upsetting a prohibition on such dealings by the national bank that had come as a significant hit to the flourishing business. The Reserve Bank of India (RBI) had requested money related foundations to sever all ties with people or organizations managing in virtual cash, for example, Bitcoin inside a quarter of a year, in April 2018. The boycott prompted plunging exchange volumes and trades closing their organizations.
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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.In171 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.So184 Libra is not decentralized in essence but bitcoin is decentralized.
Libra was slated to release in the beginning of 2020... (More)
I lives in India and want to invest in cryptocurrency, can anyone give me some suggestion?
The blockchain started to resound in the news and articles after people started getting involved in the bitcoin business. Well to simply put blockchain is a public ledger,a transaction log or a shared ledger.But what is the significance?How does it work?Why is it an important concept in the digital currency?Why is it hailed as the major concept in technology after internet?
Imagine you are playing a game of monopoly.Your currency cards are all torn.During my childhood ,what we did was to keep one of our friends to take note of the amount of money that we transact during the game.So236 he keeps the ledger,and the ledger is public.But the problem arise when the log keeper is partial,he can easily manipulate the amounts written on the paper for the benefit of his friend who is playing.We are busy playing so we simply forget to check if he is doing it right.
Blockchain is ,thus,a growing list of records which is unalterable.How197 is it unalterable?Well blockchain contains essentially three parts.The basic informations like who is date,time and amount of the transaction.The information about who is participating in the transaction.And the main part,a code which distinguishes the block of transaction from other blocks.The last part is important because it is the important feature of blockchain which can prevent double-spend and further manipulation by tech savvy people.The unique code is called hash.It162 is a cryptographic code made by special algorithm.It173 is like a secret word that you can remember only if you combine some... (More)