Libra cryptocurrency and blockchain terminology explained in a simple and easy to understand way.
Libra Cryptocurrency – A digital currency, based on the distributed ledger (blockchain), announced by the Facebook in 2019, mainnet release in 2020.
LBR – The symbolic abbreviation for Libra (LBR) cryptocurrency.
Libra Blockchain – A database that keeps the record of Libra cryptocurrency transactions and smart contracts. All data recorded on the blockchain is public, maintained by independent validators. That way it is decentralized and doesn’t belong to someone in particular, but can be accessed and used by anyone.
Libra Ecosystem – It is an umbrella term for all things Libra. From the Libra source code to a farmer in a remote Asian village, they all are parts of the Libra Ecosystem.
MOVE Programming Language – MOVE is a programming language to implement Libra transactions and smart contracts.
Libra Smart Contracts – Like Ethereum and some other cryptocurrencies, it will be possible to code and deploy smart contracts for Libra, using the MOVE programming language. Smart contracts implemention will begin after the initial Libra cryptocurrency release in 2020.
Libra Value – Libra is a coin that has relatively stable value. It will not be pegged to any particular currency but will have its own value, based on the reserve resources.
Libra White Paper – The document where Libra’s mission, vision and technological implementation is described.
Mainnet and Testnet – These are two different networks.
Libra Wallet – A digital, physical or hardware wallet designed for the Libra cryptocurrency.
Libra address – The address refers to a hash of a public key associated with the Libra account. In other words, it is a Libra wallet address to which Libra cryptocurrency can be sent. The address is public and can be shared with other people.
Libra Block Explorer – A block explorer is usually a website where user can check his or her wallet balance and get details about transactions. Several Libra block explorers already exist.
Last update: July 16, 2019