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Diem Review: Why it’s WORSE Than Libra!! 🤦‍♂️

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0:00 Intro
2:18 Diem Historical past
5:40 Diem in 2020
9:26 What’s Diem?
13:48 Diem Blockchain
17:14 Diem ‘Cryptocurrency’ Evaluation
20:22 Diem Bullish For Chainlink!?
21:42 Ultimate Ideas


⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️

► Diem Whitepaper:
► Diem Affiliation Members:
► Diem Blockchain Explorer:
► Developer Documentation:
► Diem Github:
► GreenSockMonkey ChainLink – Diem Connection Twitter Thread:


⏳Diem Historical past⌛

The Diem undertaking has its origins in Fb’s blockchain initiative, which was launched in 2017 when the crypto markets had been heating up. On the time, the only member of Fb’s blockchain initiative was 24-year-old statistician Morgan Beller who’s a Forbes 30 below 30 and a Cornell Graduate

It’s believed that Morgan is finally the one who pushed Fb to dabble in crypto applied sciences. Morgan Beller, David Marcus, and former Instagram and Twitter heavyweight Kevin Weil are collectively thought of to be the founders of Libra, which formally launched its whitepaper on June 18th, 2019

📅Diem in 2020📅

In April this yr Libra made amendments to its whitepaper in an try and appease regulators. 4 key components of the undertaking had been modified.First, the Libra blockchain will host extra property than simply its personal native Libra stablecoin token. It’s going to even have stablecoins for nearly each main fiat foreign money on the earth

Second, Libra will go above and past to make sure that each entity utilizing their funds community should present detailed KYC documentation, and might be a requirement to create a Libra pockets. Third, Libra is abandoning its purpose of ultimately turning your entire funds community right into a decentralized autonomous group inside 5 years of launch

The ultimate change made by Libra in April is how the foreign money reserves for the Libra coin and its numerous stablecoins. As an alternative of a strict 1-1 ratio for each stablecoin issued, reserve property will consist of varied QUOTE ‘property with very short-term maturity, low credit score danger, and excessive liquidity’.

❓What’s Diem❓

The technically right time period for Fb’s Diem is the Diem Funds Community. You’ll be able to consider the Diem Funds Community as being each a stablecoin supplier like Circle and a banker coin blockchain like Stellar

The Diem Funds Community is managed by the Diem Affiliation, a membership group that owns Diem Networks, which builds the precise infrastructure for the Diem Funds Community together with the precise Diem blockchain which handles all funds made on the community

⛓Diem Blockchain⛓

The Diem blockchain is a proof of stake blockchain that makes use of the Byzantine Fault Tolerant consensus mechanism. The Diem blockchain can also be sensible contract appropriate and makes use of its personal native sensible contract language referred to as Transfer.

The Diem blockchain can also be designed to work with central financial institution digital currencies and is meant to deal with over 1000 transactions per second when it launches. Nonetheless, current evaluation of the Diem blockchain suggests it could actually deal with simply 6 transactions per second on common

💰Diem ‘Cryptocurrency’ Evaluation💰

None of Diem’s tokens are going to make you wealthy as a result of they’re all stablecoins. Diem’s personal multi-collaterlized stablecoin is modeled after the IMF’s Particular Drawing Proper or SDR, which is a reserve asset backed by 5 nationwide currencies. Diem hopes its personal stablecoin might be used to guard in opposition to worth volatility and utilized in lieu of weak nationwide currencies in choose growing international locations.

🤑Diem Bullish For Chainlink!?🤑

There’s circumstantial proof which means that Chainlink might be tapped to be the worth oracle for the Diem blockchain. Chainlink has already partnered with tech giants like Google and Oracle together with nearly each main participant within the crypto house


📜 Disclaimer 📜

The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any specific end result.

#Diem #Libra #crypto #stablecoin #blockchain #fb

Source: Coin Bureau

26 Responses

  1. Let’s never touch this disgusting project that will be USED TO CONTROL US. Crypto is about peer to peer DECENTRALISED power to the people. They already censor us, DONT NOT TRUST THEM.

  2. Centralization of Diem undermines one of the pillars of blockchain which is decentralization. One of the reason Bitcoin was created was to break free from shackles of centralized control. Knowing worldbank, IMF and World economic forum has its support further shows its intentions of global centralized control of digital money. So whoever is not aligned with their “Facebook/Zuckerberg party” type of thinking will be thrown off the platform, just like they deplatform nowadays. Fuck diem, fuck Facebook and zuckerberg!

  3. Diem is a copy of Alipay. Alipay in China revolutionized the way people conducts trade and business in the last 12 years. I'm sure people will love this blockchain currency

  4. Well said 👍 By the start of this week’s trad!ng session, moving between losses and gains on its neutral weekly outlook which makes it a tough decision for lnvestors to decide how best to utilise the current market; as for me it can’t be more obvious that trad!ng B!tcoin is way more lucrative than just hodIng and waiting for the price of B!tcoin to skyrocket. I didn’t think it was possible to make constant win from trad!ng till I came across Matt Mark's program for lnvestors/newbies who lack understanding on how trad!ng B!tcoin works, to help them stack up more B!tcoin, since late last year till date I have made over 19₿ from 2.6₿ with Mark's help. You can easily get to him on Tҽɬҽցɾα𝓶 :-@MattMarkTribes or ᗯԋαts𝓐ρρ + 1 (804) 999 5612 for crypto related issues.

  5. It's interesting that besides slow processing power the biggest drawback you mention is "it will not make you reach". I think that's the whole point of Libra/Diem – instead of making it another hipe/pump and dump/GME they really want to make a digital currency that will have fewer frictions. Essentially they offer is not for the drug dealers who want privacy of their money source but for regular people and merchants who might benefit from less fees for Visa/Mastercard/PayPall/ etc.

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