Libra (DIEM) like BITCOIN is also based on the BLOCK-CHAIN.
As described in these articles I collected on the site, the difference is between BLOCKCHAIN permissionless like BITCOIN and bLOCKCHAIN permissioned like DIEM.
This means that the validation of the transaction is not done by any node but by special nodes, the members of DIEM, Meanwhile FACEBOOK claims that the BITCOIN system cannot support 3 billion customers but instead in my opinion in the DIEM system the bottleneck remains the validating partners, if they are a hundred it will be difficult to validate billions of transactions.
So the MINING is necessarily reduced. The system is more complex, they have a special language (MOVE) structured precisely to program the DIEM BLOCKCHAIN, among the articles collected there are also technical notes on languages. While the traditional BLOCKCHAIN of BITCOIN allows any kid expert in languages such as C ++ or JAVA or others to write BLOCKS and BLOCKCHAINs, since everything is already chewed up by the library functions, such as the HASH function, the DIEM speech seems more complex, but however it does not solve the fundamental problem, MINING is conceptually and practically HARMFUL for the world ecosystem, where enormous amounts of energy are consumed to add blocks to a BLOCKCHAIN.
The problem, as also explained in the article WHAT ARE CRYPTOCURRENCIES, leads to ACRITIC ACCEPTANCE of the IT security system. PUBLIC KEY PRIVATE KEY.
They say that the solar system ends before they can guess the key. This is deeply wrong.
The relationship between PUBLIC KEY and PRIVATE KEY are huge prime numbers. All perfect in theory, but already in 2012 an article appeared in the Italian newspaper Repubblica that researchers had found the system to identify 4 or 5% of the analyzed keys. Why? This is the generation of random numbers. In computer science there is no random number, there is a RANDOM PSEUDO number generated by an algorithm. This is the Achilles heel of this system.
But sadly they went on for another 10 years hiding the dust under the carpet. Let us now neglect the fact that if one loses the private key, HE LOSES EVERYTHING and that in any case in daily use there are the CERTIFICATES that guarantee the key issuer and that can be cloned and the fact that the public key is slow and generally only comes used to transmit the private key.
The question is therefore this: can encryption be done WITHOUT the PUBLIC KEY – PRIVATE KEY system? Can security and inviolability be guaranteed WITHOUT BLOCKCHAIN?
The answer is yes. We have been working in cryptography for 12 years. We have the CRIPTEOS system (god of cryptography) 3001 which uses a patented algorithm where TWO KEYS of 128 KILOBYTE are used. To identify them with BRUTE FORCE attacks (try all keys until you find the right one) it takes 256 to 131,000 attempts. The solar system ends first.
We also solved the problem of transmitting the key the first time, which has pestered the pseudo cryptographers and led them to accept the PRIVATE KEY PUBLIC KEY system as a savior.
But the problem of the very high energy consumption of MINING led us to create, in our secret laboratories, a CDIGITAL COIN system that could do without the BLOCKCHAIN. We have created a CRYPTOGRAPHIC system with THREE KEYS of 40 MEGABYTES. It ends the universe first if they try to decode them with BRUTE FORCE attacks. Given the ingeniousness of the algorithm, which is extremely fast at encrypting, the system can CUSTOMIZE the algorithm for each customer with the THIRD KEY.
VALIDATION is done by a DECODING SYSTEM. Recall that the competition uses HASH functions that cannot go back.
So WE sell a MACHINE TO PRINT digital coins. Conceptually it is like that for COINING coins or printing banknotes.
Each customer prints it in the quantity he wants, sets the price as he wants, and certainly cannot create other customers’ FALSE CURRENCY. Then to make transactions you just need a bank account that manages multiple currencies or trading sites as for CRYPTOCURRENCIES. Another point that should not be underestimated is that our system is READY.
After the commercial negotiation it can be up and running. If anyone wants to carry out tests we provide the smaller CRIPTEOS 3001 system to bombard them with BRUTE FORCE attacks, we believe this is sufficient to guarantee the reliability of our systems.