A cryptocurrency is a digital currency that is managed through the use of advanced encryption techniques known as cryptography. Various online casinos now allow their customers to use cryptocurrencies to wager on mobile phone slot games. With the increasing popularity of digital currencies, Facebook has revealed its plan to establish a cryptocurrency called Libra in the first half of 2020. Read on to know more about it.
Libra will be a digital currency backed by financial assets such as the basket of currencies and US treasury securities to avoid volatility. The name Libra comes from the Roman measurement of weight. The social media giant has announced that each of the partners will invest $10 million at the start. Based on the demand, the Libra Association will create new Libra currency units. Initial reconciliation of transactions will be performed by each partner and the blockchain ledger will be used for reconciliation between each service partner.
The new cryptocurrency will trade on a network of…