In the second episode of the Libra series, I sit down with Jameson Lopp & Peter Todd to talk about Libra technicals. We discuss scalability issues, smart contract limitations, politics within the Libra Association and who is responsible for the KYC/AML.
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“If you asked me to go and make a centralised blockchain, run by a federation so that you could go and make a new type of asset… The architecture I would pick is actually not that far from Libra’s.”
– Peter Todd
Date: Sunday, 14th July
Project: Casa & Independent Consultant
Role: CTO & Applied Cryptography Consultant
Libra promises to be the first distributed ledger to transition from a permissioned system to permissionless. However, it faces many significant technical challenges, many of which have yet to be solved by other cryptocurrencies.
One of the main issues Libra faces is scalability. At launch, Libra is tipped to offer 1,000 transactions a second, but with a network of potentially billions of users, this will very quickly reach maximum capacity.
Will Libra be able to solve its scaling issues? Will people care enough about Libra to want to use it? What happens when there are disagreements within the Libra foundation?
In the second episode of the Libra series, I discuss these issues with Jameson Lopp and Peter Todd, as we take a deep dive into the technical side of Facebook's Libra.