The wait is finally over as Facebook officially revealed the details of its widely-anticipated cryptocurrency, Libra, earlier on June 18.
On the onset, it looks like the Libra network will have more privacy and decentralization built in than what many in the cryptocurrency community had initially anticipated.
Interestingly, Facebook has also thrown in a new programmable language, dubbed Move, to go along with the package. The company claims Move has been optimized to “provide a safe and programmable foundation for the Libra blockchain.”
According to the official documentation explaining Libra, Move comes equipped with the necessary foundation to make life easier for blockchain developers. It facilitates a convenient environment wherein developers can easily execute their intent with minimal risks of introducing bugs in the process.
The team overseeing the project decided to name it Move as its primary role will be to move Libra coins from one wallet/account to another. There are special preemptive measures inbuilt within the language that makes it unlikely for the coins to be accidentally or maliciously cloned.
Two of Move’s primary tasks include:
- Facilitating a smooth and secure execution of the underlying governing policies to manage the Libra ecosystem.
- Secure management of the network of validator nodes.
Additionally, when it is fully developed, Move will enable developers to build smart contracts on the Libra blockchain. Until then, they will have to manage with Move IR to create transaction scripts and modules.
Move IR is the compiler that compiles native scripts and modules all the way down to their bytecode representations. Although human-readable, it is not high-level enough for a direct translation into the Move bytecode.
For more info on Move and Move IR, you can refer to the official documentation here [PDF]. Meanwhile, let us know how excited you are about Facebook’s maiden venture into the crypto space (i.e. if you think it is worth being excited for at all).
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