What is Terra (LUNA)?

 What is Terra (LUNA)?

Terra (LUNA)

What is Terra (LUNA)?

Terra is a  blockchain  protocol that uses Fiat-pegged  stablecoins  into a highly stable global payment system. According to the white paper, Terra  combines  price stability and widespread fiat currency acceptance with Bitcoin  (BTC) anti-censorship  and offers a fast and affordable deal.

Developed on Terra began in January 2018 and mainnet was  opened  officially in April 2019 in the month of September 2020  were presented  Stablecoin pegged to the US dollar, the South Korean won, the money Grigory Two of Mongolia. and IMF withdrawal privileges of various currencies and intends to launch more options.

LUNA, Terra's original token, is used to stabilize the price of stablecoins protocol. LUNA holders can also submit and vote on regulatory proposals.

Who was the founder of Terra?

Terra was founded in January 2018 by Daniel Shin and Do Kwon, both  thinking  of this project to drive the adoption of blockchain and blockchain technology. Cryptocurrency  come to use quickly Focusing on price stability and usability, Kwon took over as CEO of Terraform Labs, the company behind Terra.

Prior to development, Terra Shin  co-founded  and headed Ticket Monster, also known as TMON, a major South Korean e-commerce platform. He later  co-founded  Fast Track Asia, a startup that works with entrepreneurs. the to build a company that works at full capacity

Kwon previously founded and served as the CEO of Anyfi, a startup that provides decentralized wireless network solutions. He also works as a software engineer at Microsoft and Apple.

What makes Terra unique?

Terra is trying to differentiate itself by adopting stablecoins that are fixed on fiat currencies, and have also stated that it combines the borderless benefits of cryptocurrency with day-to-day stable prices. It maintains a one-to-one peg through an algorithm that automatically adjusts the supply of stablecoins to demand. This is done by incentivizing LUNA holders to trade LUNA and stablecoin at a profitable exchange rate of choice. To expand or contract supply of stablecoin to meet demand

Terra has established partnerships with numerous payment platforms, especially in the Asia-Pacific region. In July 2019, Terra  announced  a partnership with Chai, a mobile payment application in South Korea. Purchases made using the application on the e-commerce platform are carried out through the Terra blockchain network. Each transaction is subject to a 2%–3% fee charged to the seller.

Terra is also backed by the Terra Alliance, a consortium of businesses and platforms supporting the adoption of Terra. In February 2019, the company  announced  that its ecommerce platform has a base of 45 million users from 10 different countries. and has a total product value of $25 billion.

How many Terra (LUNA) coins are in circulation?

Terra has a supply of 1 billion tokens. If this amount is exceeded, LUNA will be reduced until it returns to a balanced supply level. New LUNA tokens will be generated using protocol algorithms as necessary to maintain the price of Terra stablecoins.

LUNA Offers First Buy in Private Token Sale for Beginners Investors This includes major stock exchange intermediaries such as  Binance  ,  OKEx,  and  Huobi.  The sale ended in August 2018 and resulted in Terra  raising  $32 million. Of the 385,245,974 LUNA being rebuilt for sale, 10% will be  kept. intended  for terraform Labs, 20% for staff and those involved in the project, 20% for Terra Alliance, 20% for reserve price stability, 26% and 4% for support for the creation of liquidity.

How secure is the Terra network?

The Terra blockchain is secured using A proof-of-stake  consensus  algorithm based on Tendermint in which LUNA token holders  stake their  tokens as collateral to verify transactions. with a reward in proportion to the LUNA wagered Token holders may entrust others to validate transactions on their behalf by sharing the resulting revenue. Terra also  offers  additional guidance for network validator providers on best practices. The best to help secure your network.

In May 2019, shortly after the Terra Core Network launched CertiK, the blockchain audit and penetration testing company completed a network security audit,   and also reviewed an economic model for Tested with marketing management, architecture and coding language CertiK, the Terra network's "modeling and mathematical reasoning" is "sounds good", although it doesn't comment on the blog's performance. Chain

Where can you buy Terra (LUNA)?

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• Binance
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• Crypto.com
• Gate.io
• OKEx
• KuCoin
• CoinBene
• eToro
• Huobi Global
• Bitfinex
• FTX
• ZG.Com
• CoinTiger
• Bitkub
• Satang Pro
• Olymp Trade
• Expert Option
• Binomo
• TradingView
• Deriv.com
• Exx.com
• FatBTC
• BitMart
• XM
• Exness
• FBS
• Skrill
• Neteller
• MinerGate

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