Israeli Startup Beats Facebook in Launching First Incubator for Libra Developers

Michael LaVere
  • Israeli startup Libracamp to become the first incubator program for libra development
  • Group hopes to raise $1 million as a prize for the winning team. 

A small team of Israeli entrepreneurs has beaten Facebook to the punch in creating the first incubator for libra developers. 

Libra Incubator

The startup, titled Libracamp, has created a virtual boot camp for Facebook's digital currency development and is set to launch in November.

The project will serve as an incubator for developers working with libra and creating on its testnet, in lieu of an official operation by the social media platform. Libracamp will have five spots in the initial cohort and hopes to raise $1 million in prize money for the winning team, in addition to providing funding for the second round of developers. 

Already the program reports having more than 80 projects apply for the five openings. Tomer Weiss, co-founder of Libracamp, told CoinDesk that Facebook has reached out the team, despite making an official sponsorship. 

Weiss said,   

“We see this as the ‘iOS moment’ of digital assets and programmable money applications. Imagine there was an incubator that came to companies and helped them think about how to put their companies on iOS before the iPhone launched.”

The co-founders have pooled together $125,000 for the teams to use in the incubator program, but are hoping to raise more to extend the project into a second group for 2020. 

Coinbase, EOS Community Clash Over Supposed ‘Degraded Performance’

Francisco Memoria

The San Francisco-based cryptocurrency exchange Coinbase has been clashing with the EOS community on social media over supposed “degraded performance” the EOS network has been suffering.

According to a tweet published by one of Coinbase’s official accounts, the EOS network is experiencing “degraded performance levels” and as a result EOS sends have been disabled, while receives may be delayed. Coinbase’s status page shows it has been seeing degraded performance on the network for four days.

In February 17, Coinbase also noted there were delays in EOS sends/receives as it was working “rough a backlog of outgoing EOS transactions.” Responding to Coinbase EOS New York, a major EOS block producer, claimed the network was fully functional and that the problem came from the cryptocurrency exchange itself.

On Reddit, EOS New York wrote that the “network is operating fine and Coinbase is shifting blame away from their internal infrastructure problems.” It added no other entity reported issues and that instead the exchange could reach out to block producers for free help.

EOS Nation, another major EOS block producer, responded to the exhcnage saying the network did face some hiccups but is nevertheless “extremely reliable.”

Some speculate the EOS network may still be facing congestion from time to time over the controversial EIDOS airdrop, that put the network into a “congestion mode” late last year and forced Coinbase to raise the amount of staked CPU on its wallets to process transactions.

Some believe the EIDOS airdrop is being run to make EOS’s shortcomings stand out and incentivize users to use other blockchains using the EOSIO software, created by the company Voice, the social network the company is set to launch ,is for example launching on a “purpose-made EOSIO blockchain.”

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