Facebook Libra: Could It Replace Bitcoin as the Leading Cryptocurrency?
Cryptocurrencies have transformed the global financial landscape, offering decentralized alternatives to traditional banking systems. Bitcoin, the pioneer, has dominated the market since its launch in 2009, becoming synonymous with digital currency. However, the introduction of Facebook Libra (now rebranded as Diem) has sparked new debates in the financial and tech worlds. With the backing of a major global platform like Facebook, Libra promises faster transactions, global reach, and easier adoption. But can it realistically replace Bitcoin as the leading cryptocurrency? In this article, we explore the potential, challenges, and implications of Facebook Libra in today’s crypto ecosystem. What is Facebook Libra? Facebook Libra is a digital currency initiative launched by Facebook in 2019 with the goal of creating a global payment system. Unlike Bitcoin, which is decentralized and relies on blockchain mining, Libra was designed as a stablecoin —a cryptocurrency backed by a basket of rea...