The New Libra Coin – An Unofficial Explainer

I’ve been looking at the design of the new Libra coin (LBR) in the updated Libra Whitepaper. Here’s what I think the differences are between this new “synthetic” coin and the previous iteration of the coin as described in 2019. Hope it’s helpful!

Note, this is just my attempt to explain it with the information that is available. It is probably still subject to change. If you’ve found it useful, feel free to share!

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2 Responses

  1. Sam Brand says:

    Hello, I am wondering what do you mean in the graphic above when you say anyone who can use the Libra smart contract (e.g. all Libra Council members) can “wrap” or “unwrap” LBR? Does this mean the validator node can issue or burn LBR?

  1. May 26, 2020

    […] In the meantime, Facebook is pushing forward with expected delivery towards the end of this year. Bits on Blocks put together this excellent explaininer on Facebook’s Libra and how it has changed from version 1 to 2.  The New Libra Coin – An Unofficial Explainer – Bits on Blocks  […]

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