As you may know, Facebook announced its own coin Libra:
Main differences between ETN vs Libra in technical terms:
Libra is permissioned: meaning miners are selected and limited by Libra Association.
ETN is permissionless: meaning anyone with ASICs are free to enter as a node.
Libra is POS
ETN is POW
Libra has no limited supply and its price will be stabilized by Libra Association by burning or creating new tokens. Though, it is not a pure stablecoin like Tether which is pegged to USD. Libra is going to be pegged to a busket of currencies and other major assets.
ETN is limited to 21 bln supply.
However, if you read the whitepaper of Libra, Libra also
- targets 1.7 bln unbanked people
- targets mobile operators (Vodafone is already in the list of Libra Founding Members), MVNO and data top ups
- concentrate on mobile wallet and payments
ETN’s main focus and energy so far was on above 3 targets.
Facebook has a big user base of more than 2 bln people, big brand, big advertising and networking advantage.
I am not anti- or pro-Libra but I am certainly ETN fun and holder.
So, based on facts above, what do you guys think on Libra’s effect on ETN’s future? Positive or Negative?
Libra will launch first half of 2020.