The Libra Association’s founding member, Bison Trails, published a QT protocol that allows developers to read and write data on the Libra pre-mainnet using off-chain systems.
Staking service and technology provider Blockchain, Bison Trail, announced the launch of its QT (Query and Transactions Clusters) protocol to help developers build on the upcoming Libra Facebook network.
Libra QT provides a bridge between Libra’s pre-mainnet and off-chain systems, allowing the dedicated off-chain infrastructure to read and write data on the blockchain network.
According to a 25 November announcement from Bison Trails, which provides blockchain infrastructure and services to cryptosystems companies, „Libra QT offers fully managed, dedicated and highly resilient Libra read/write nodes and support systems without the hassle and expense of running them internally“. Bison Trails co-founder and technical director Aaron Henshaw said:
„Libra QT is a fundamental part of our product offering for the Libra ecosystem. It allows people who build on Libra to securely and easily integrate their exchanges and wallets, and create new and exciting applications.“
Developers can use Libra QT from Bison Trails to create wallets, exchanges and other virtual asset services on the Libra mainnet. Bison Trails is a founding member of the Libra Association.
Libra QT also enables payment processing, transaction validation and specialised use cases, such as market-making and smart contract creation.
Since facing strong regulatory rejection in 2019, the Libra Association has moved away from the media spotlight to redesign the project, gaining little attention since announcing former HSBC, Credit Suisse and Santander executive Ian Jenkins as its chief financial officer and risk manager last month.
In a recent interview, crypto-sceptic David Gerard, who wrote a book on Libra, described the „uniformity“ of the international regulators‘ exclusionary response to Libra as „staggering“, noting that legislators around the world immediately raised barriers to the project and worked to strengthen existing legislation to protect against „global stablecoins“.
Gerard believes that the threat of global „libra-isation“ was too great for regulators to ignore, and that Libra posed challenges to monetary policy sovereignty.
„It’s like dollarisation, which is the word for when a country’s economy is totally overtaken by the US dollar. …] Libra-isation could happen in the same way, that would be bad enough, because while the Federal Reserve keeps the US dollar for US interests … there is some kind of public service aspect to dollarisation.
The Libra Association has expanded its membership to 30 this year, including the addition of leading venture capital firm DLT, Blockchain Capital, and leading e-commerce companies Shopify and Checkout.com.