DIEM Price LIBRA | DIEM (Coming Soon) Price LIBRA | Buy DIEM (Coming Soon) UK
DIEM (Coming Soon) DIEM
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Diem is coming soon!
Update December 2020 Libra has been renamed Diem.
Please bookmark this page and come back soon. We're just setting up Diem in our systems - kindly ignore any auto generated banner adverts for Diem, buying guides, and also any referral links to Binance - all will eventually work upon Diem's imminent release. Again, we're just gearing up. Thanks for your patience.
This is experimental data using a hypothetical example of 100 Billion circulating supply with a value of 1 USD per Diem.
The Diem Association
The Diem Association is an independent membership organization, headquartered in Geneva, Switzerland. Their mission is to create "a simple global payment system and financial infrastructure that empowers billions of people". This project's ultimate aim is to "Provide people everywhere access to safe and affordable financial services. So people everywhere can live better lives."
The Diem coin will have the following qualities:
Mobile - accessible to anyone with smartphone and data connectivity.
Stable - backed by a reserve of assets.
Fast - transactions will be quick and easy.
For everyone - facilitating a more accessible, more connected global financial system.
Scalable - open-source protocol will be attractive to developers.
Secure - blockchain technology ensures security.
The following section will be updated once the Diem white paper is updated.
A recent update to the project's whitepaper included strong focus on the following areas:
• Single-currency stable coins in addition to the multi-currency coin.
• Enhancing the safety of the Libra payment system with a robust compliance framework.
• Forgoing the future transition to a permission less system while maintaining its key
• Building strong protections into the design of the Libra Reserve.
Libra state in their whitepaper “while our vision has always been for the Libra network to complement fiat currencies, not compete with them, a key concern that was shared was the potential for the multi-currency Libra Coin (≋LBR) to interfere with monetary sovereignty and monetary policy if the network reaches significant scale and a large volume of domestic payments are made in LBR. We are therefore augmenting the Libra network by including singlecurrency stablecoins in addition to ≋LBR, initially starting with some of the currencies in the proposed LBR basket (e.g., LibraUSD or ≋USD, LibraEUR or ≋EUR, LibraGBP or ≋GBP, LibraSGD or ≋SGD). This will allow people and businesses in the regions whose local currencies have single-currency stablecoins on the Libra network to directly access a stablecoin in their currency. Each single-currency stablecoin will be fully backed by the Reserve”.
The white paper states “the Libra payment system will support single-currency stablecoins (e.g., ≋USD, ≋EUR, ≋GBP, etc.) and a multi-currency coin (≋LBR). Each ≋LBR, is a composite of 1:1-backed single-currency stablecoins supported by the Libra network, and benefits from the backing and stability of those stablecoins.”
Libra Price Composition
For experimental purposes, our Libra price is the mean average of the sum of FX rates of EUR, GBP, and SGD against USD, all equally weighted. This of course is just to conjure up a value for test purposes. Libra's final mechanisim will likely be far more complex, involving more FIAT currencies, weighting, and formulas. Libra states “Single-currency stablecoins simplify the design of ≋LBR. ≋LBR can be implemented as a smart contract that aggregates single-currency stablecoins using fixed nominal weights (e.g., ≋USD 0.50, ≋EUR 0.18, ≋GBP 0.11, etc.).”
Libra coin has “Full backing” meaning the Reserve will hold, in cash or cash equivalents an amount at least equal to the value of every Libra Coin in circulation.
The Libra blockchain is a cryptographically authenticated database maintained using the proprietary Libra protocol by a collection of distributed devices.
Libra Byzantine Fault Tolerance (LibraBFT) consensus protocol is a method that facilitates agreement among all validator nodes.
The Reserve is tasked with minting and burning each single-currency stablecoin including ≋USD, ≋EUR, and ≋GBP.
Smart Contracts and Move Programming Language
Smart contract is a term used for a piece of software running on a blockchain that is capable of executing transactions. Libra state "Move is used to implement custom transaction logic and smart contracts on the Libra Blockchain".
Virtual Asset Service Provider
These are “entities that perform exchange, custody, or other similar financial services for customers on the Libra network.”
Central Bank Digital Currency (CBDC)
Central Bank Digital Currency (CBDC) is an electronic form of central bank money.
Libra state that “over the coming months, the association will work with the community to gather feedback on the Libra Blockchain testnet and bring it to a production-ready state. In particular, this work will focus on ensuring the security, performance, and scalability of the protocol and implementation.”
This test data uses a hypothetical example of 100 Billion supply with a fixed value of 1 USD per Libra. This experiment shows how the cryptocurrency market may look in the future once Libra is released. We are in no way affiliated with The Libra Association. The data displayed on this page includes experimental Market Cap values and unexpected coin rankings. This is deliberate and intended for testing purposes only. CoinGecko’s API is always used for Price, Volume, Total Supply, and Charts; CoinGecko’s API Circulating Supply is always used where available. Do not base any trades on this data. Always seek professional independent advice; always do your own research; always verify cryptocurrency prices from several trusted sources before trading.