Comparative Analysis of Bitcoin, Ethereum, and Libra

Abstract

In recent years, with the popularity of Bitcoin and other cryptocurrencies, the blockchain technology behind it has gradually become a research focus. After the official launch of Facebook's cryptocurrency project Libra and the publication of the Libra white paper, Libra triggered extensive discussions around the world. Libra has aroused the public's awareness of open finance and is deeply impacting the traditional financial system. In this paper, we systematically review and discuss the blockchain technology and summarize Libra's innovations in consensus algorithm, performance, and application scenario through a comparative analysis of Libra, Bitcoin, and Ethereum. Finally, we put forward the challenges that Libra will face in the future.