eToro greens pilot trials on Facebook Libra

The eToroX Team updated on 20 June about the heralding of Facebook’s cryptocurrency Libra and compatibility of eToro tokens with Libra.

eToroX is the research and innovation subsidiary of eToro. eToroX’s Labs Blockchain Science team, comprising Chief Blockchain Scientist Dr. Omri Ross, Peter Emil Jensen, and Johannes Rude Jensen expressed their initiative to integrate eToro tokenized assets. They would also study how well Libra suited their specifications. The team expressed to undertake this study in the first week of Libra’s existence.

The eToroX Team commented –

“By exploring Libra’s capabilities, and using Move IR (the intermediary representative layer of what will eventually be the final programming language), they successfully managed to implement an initial version of eToro tokenized assets on the Libra Network.”

The eToroX Team conveyed that using Ethereum as the base, the team had created a digital asset infrastructure on Libra. Libra is a monumental offer by Facebook towards creating a cryptocurrency ecosystem. Libra had received mixed reactions from various bodies with some government ordering a complete halt and crypto community questioning its technical characteristics.

The eToroX Team commented on the two top takeaways. The takeaway labeled move restricts duplication and copy. Such a move is applicable to resources. Such a measure prevents accidental duplication and loss. The other takeaway is that move does not allow publish on behalf of other users. This provision mandates that users acknowledge themselves, which makes them the sole owner of their data.

Dr.Omri Ross, eToroX’s chief blockchain scientist expressed that through the development of Move IR, a significant novelty had been achieved. Dr.Omri added that they looked forward to further work and advance with the team. Dr.Omri further added that the combination of the Rust programming language and HotStuff consensus algorithm is a step in the right direction in the maturing industry.

In March, eToro updated about adding TRON’s TRX to its platform. TRON commenced by introducing eToro as a global investment platform with over 10 million registered users. With the latest addition, the total number of crypto-assets available on eToro would reach 15. TRX is currently the tenth largest crypto asset in the world with a market cap of 1.5 billion U.S. dollars. With TRX listed on eToro, users are benefited from another great platform to manage their assets. Such steps would help scale the blockchain community.