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Facebook chooses crypto giant to help forge stablecoin Diem

A new basis for making a splash - Facebook has been expressing its ambitions to create a cryptocurrency for several years now. In parallel with Diem's ​​main network, Facebook created Pontem, a kind of test network. According to the latest information, it will be based on Substrate, the base of the Polkadot network. Facebook conquers cryptocurrency In early 2019, the GAFAM giant, Facebook formalized its desire to create a cryptocurrency. Originally named “Libra”, the project met with widespread reluctance from regulators around the world. Faced with pressure from regulators, Facebook decided to revise its project and took the opportunity to rename it "Diem", to separate itself from the image that Libra could have with institutions. Pontem: the test chain based on Polkadot In parallel with the Diem network, which will unsurprisingly be a private blockchain, the project teams have developed an alternative network which will act as a test network. Launched in 2020, Pontem is a public, permissionless blockchain, which means anyone can use it. Its goal is to allow third-party application developers to test their applications there in an environment similar to Diem's, before it is migrated there. Under the hood, Pontem is a blockchain based on Substrate, the same base that was developed and is used by the Polkadot network. As a reminder, Polkadot is a blockchain infrastructure that aims to promote interconnection between the different chains. In reality, it acts as a backbone between the different chains, called parachains, that make up its ecosystem.