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Libra: the Roadmap of the Facebook stablecoin
Libra: the Roadmap of the Facebook stablecoin
Crypto

Libra: the Roadmap of the Facebook stablecoin

By Marco Cavicchioli - 3 Oct 2019

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The first roadmap of the Libra project, the Facebook stablecoin, has been published on the official website

In reality, the dates of the possible releases of the testnet and the mainnet are not indicated, although there are the 4 Milestones that should lead to its launch. 

These Milestones are: 

  1. reaching 5 partners in the Pre-Mainnet phase 
  2. reaching 25 partners, launching the Testnet and the publicly visible private transactions
  3. Reaching 75 partners and opening transactions to the public 
  4. Reaching 100 partners and launching the Mainnet. 

ROADMAP LIBRA

The fact that there are no dates, however, still highlights the willingness not to proceed without first obtaining all the necessary authorisations. 

Unfortunately, it is not yet clear when, and if, these permits might arrive, so it is not technically feasible to envisage an operational timetable. 

The website, however, states that the developers have already created several Libra blockchain explorers (libranaut, libraview , librabrowser and libexplorer) and have integrated the Testnet in their wallets (like ZenGo). Some projects have already incorporated the new language for smart contracts, Move, into their systems (like Solana). 

The development is led by Calibra, the company owned by Facebook that should release the first Libra-specific wallets, and that is constantly publishing new material on GitHub

Two new guides have also been released, one for running Move applications locally, and another showing how to manage the network. 

The Testnet (or Milestone number 2) has actually already started, and it’s allowing the developer team to detect and solve the inevitable problems and bugs still present in this phase. 

The next step should thus be Milestone number 3, although it is not known when it will take place. 

The final goal consists of ensuring that, with the launch of the Mainnet, all partners have their own nodes on the network. Each node will run on a combination of infrastructure hosted locally and in the cloud, in the belief that a wider diversity of infrastructure will provide greater resilience to Libra’s network.

Libra’s blockchain will consist of a single type of node that can be configured differently. This will allow the node to act as a validator or as a non-validating node that stores the complete transaction history. 

Therefore, despite the political and strategic problems, the technical development of the project is progressing, so it is possible to imagine that the launch could actually take place in the second half of next year. 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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