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    Home » A technical look at the Libra blockchain
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    A technical look at the Libra blockchain

    AdminBy AdminDecember 25, 2021No Comments3 Mins Read
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    The Blockchain Xdev, a company specializing in technology consulting and the development of blockchain solutions, based in Paris, has published an analysis of the technology underlying the Libra cryptocurrency.

    The objective of this study is to draw up a synthetic technical analysis of the technology underlying the LIBRA cryptocurrency and more precisely to list the main risks relating to the choice of architecture and technologies adopted by the project.

    The risk analysis below is carried out according to the main evaluation criteria of a Blockchain technology, namely:

    • The governance : modality of management of the conditions of access, use and development of LIBRA by its users and members
    • The performance : capacity in number of transactions per second
    • Confidentiality : ability to guarantee the confidentiality of personal or sensitive transaction data
    • Identity management : management of user anonymity
    • Security : protection mechanisms against computer attacks
    • Maturity : system stability and reliability over time. Feedback on the technologies used.

    From a technical point of view, the Libra project concentrates the most relevant architectural choices allowing it to respond to the main challenges of a cryptocurrency from a performance and security point of view associated with solid governance mechanisms. promoting wide adoption by all users.

    However, we can note a design which to date does not guarantee the confidentiality of transactions handling personal or sensitive data.

    Finally, the relative maturity of certain technologies adopted has a strong risk of inducing its share of technical failures with more or less serious consequences during its deployment phase.

    The objective was to give a technological point of view on the key aspects of the project, such as data management and confidentiality, and governance. In doing so, this will allow us to gain a first glimpse of Libra’s blockchain solution, which, in turn, can shed light on the issues currently being brought forward by regulators.

    In terms of regulatory resistance, it has proven to be impressive and effective. But none of this means that stablecoins or similar projects will never be able to take off. Everything suggests that governments will have to adopt them – or compete with them. Last week, Rob Kaplan, chairman of the Federal Reserve Bank of Dallas, said that sooner or later “someone’s going to figure out how to make this work.”

    Things remain chaotic for the first phase of Libra, but there is no denying that it has been a driving force, spurring international debate on the subject and sparking business interest in digital currency.

    Find the whole study here

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