Can Facebook Libra Survive? Criticism Trails Facebook’s Libra Crypto Code

Facebook creates Blockchain Division to be led by Coinbase board member

Two weeks ago, the early-access code for Libra, Facebook’s cryptocurrency hit GitHub. Since then, would-be trollers and critics have criticized the project. Libra has recorded an early success among open-source participants with about 10,000 users who had shown interest in the project. The scheme which is currently managed by a non-profit Libra Association was conceived by Facebook.

Besides, would-be coders have created over 1,000 clones of this codebase. These experts are digging into the early code. Some of the coders experimenting with the code have integrated features formerly found in other digital currency systems such as bitcoin. Open network access for block validators is one of such additional features.

In an interview with CoinDesk, Mikko Ohtamaa disclosed that some coders digging into the code weren’t entirely serious with the experimentation. According to him, his creation of “Libra Classic” started as a joke. He described his effort as a “complete troll.”

Cryptocurrency News Today – Criticisms Trailing Libra – Crypto Latest Update

The Chief Product Officer at Radix DLT, a cryptocurrency startup, commented on the research on Libra’s code by coders. Albert Castellana noted that no real code flaws have been discovered during the experiments. However, they have recorded mostly typos and build issues. Some critics have also noted that the project isn’t a decentralized solution. Besides the crypto followers whose major concern is the centralization of the system, the government has also criticized Facebook’s data use.

Libra was created to support the latest global financial payment system. The founders of this project will be responsible for adding new blocks to the system and validating transactions after its launch. The social media giant is anticipating that the project will become more decentralized as it grows.

Some group members in the crypto space have expressed their disapproval of the structure of the Libra blockchain. These critics who argued on both GitHub and social media try to find mistakes in the details of the Libra code. Besides, the critics have compared the bitcoin’s original network with Libra. The former which also provides a solution to the global financial payment system allows any user with computational resources to access the system. Users can initiate transactions on Bitcoin network and even earn the cryptocurrency in the process.

Cryptocurrency Market Update – Trolling The Libra Project – Cryptocurrency News Today

GitHub allows users to create issues if they have read permission to a code repository. These users can tag flaws discovered in the code and suggest areas that need improvement. They can also pull request or recommend the adjustment of the code repository. Then reviewers with admin or write permissions can either reject or approve their submissions.

The Libra codebase has been flagged with about 160 issues within the last four days. Though a few of them were marked as “off-topic,” over 100 of the issues were submitted by authenticated users of Libra’s codebase. However, the Libra code repository only received pull requests roughly half of the reported issues. Some of the suggested changes to the code supported the argument in the cryptospohere that permissioned blockchain protocols have inherent flaws.

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However, users that pulled requests are accused those maintain the project of rejecting their views. Ohtamaa concluded that developing the code in the open source will prevent argument with haters.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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