The testnet for Facebook’s crypto Libra, now called “Diem,” has been live for 43 days.
Share this article
URL Copied
Facebook’s testnet has been live for over a month as the Libra Association prepares for the next stage with broader participation among members.
Facebook’s Libra Moves a Step Ahead
The latest update from the blockchain explorer finds the network performing at an average of six transactions per second (TPS), with the highest reported figure of 24 TPS.
In comparison, Bitcoin and Ethereum blockchains execute close to four and 13 TPS, respectively. On the other hand, VISA support 1,700 transactions each second.
Blockchain explorer stats for Facebook’s Diem. Source:Indiem.info
The testnet will be looking to upscale throughput and evaluate the performance of the network.
The top address contains 9.1 trillion LBR units. The test net is running close to 10 trillion tokens in 31,184 addresses.
Joe Lallouz, the CEO, Bison Trails, a member of the Libra Association, told Finance Magnates:
“Moving from a testnet to a mainnet is a huge milestone for Libra.”
Libra is planning to roll the testnet “out and into the hands of potential users, potential customers, and potential companies.”
Allegedly, the Libra Association is planning for a January launch with a USD-backed stablecoin. However, the dates of a public launch are still unclear.
Share this article
URL Copied
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
After facing lengthy backlash from regulators worldwide, a pared-down version of Facebook’s Libra project will finally launch in January 2021. Zuckerberg’s Libra Takes Flight According to the initial white paper,...
As Payment Firms Abandon the Libra Association, Who’s Next to Go?
Following last week’s news that PayPal was backing out of the Libra Association, almost all of the payment firms initially linked to the project have now announced their departure. Over...
Facebook’s Libra Rebrands Again, This Time As “Diem”
Facebook’s Libra cryptocurrency project has been rebranded to “Diem” in a new strategic move. The Diem Association announced the name change on its website on Dec. 1, 2020. Diem Is...
