Facebook’s Libra Project Development Update

The Libra Association have published an update on Libra’s development progress in blog post titled “5 months and growing strong”. The update comes five months since the announcement of the Libra project on 18 June 2019, and a month since the Libra Association charter was signed in Geneva.

The Libra Association pointed out that the success of the Libra project lies with the extended community that supports it.

A few of the things the Facebook’s Libra has been working on include:

Inviting community participation in shaping how they get to mainnet by making a detailed technical roadmap available to all.

Encouraging developers to test Libra network functionality by launching and continuously improving testnet.

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Simplifying how developers work with the Libra project team, so they can focus more on building.

Teaching developers of all backgrounds and skill levels how to work with the Libra network by consistently publishing documentation and technical blogs.

Lastly, incentivizing developers to help find and fix bugs faster by launching a Bug Bounty program.

Additionally the Libra Association have been building involvement in Libra Core, expanding to the pre-net, and deepened the developer experience. The technical roadmap and technical governance is also being expanded.

The Libra Association expressed their gratitude to all the developers in the community for all the hard work.

Libra’s community of developers have logged 34 projects in just seven weeks since launch of the testnet. The projcts include; 10 wallets, 11 blockchain explorers, 2 IDEs, 1 API, and 11 clients.

Recently, the Bank of England finalized a set of principles the Libra cryptocurrency must adopt before going live in the UK.

What is Facebook Libra?

According to the official white paper, “Libra is a simple global currency and financial infrastructure that empowers billions of people’. Facebook’s Libra is built on a secure, scalable, and reliable blockchain. It is backed by a reserve of assets designed to give it intrinsic value, and it is governed by the independent Libra Association tasked with evolving the ecosystem.

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Leigh Williams
Leigh Williams is a fintech, blockchain and cryptocurrency writer


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