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What Is Terra (LUNA)?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.
Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders are also able to submit and vote on governance proposals.
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Who Are the Founders of Terra?
Terra was founded in January 2018 by Daniel Shin and Do Kwon. The two conceived of the project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability.
- Prior to developing Terra, Shin co-founded and headed Ticket Monster, otherwise known as TMON. He later co-founded Fast Track Asia, a startup incubator working with entrepreneurs to build fully functional companies.
- Kwon previously founded and served as CEO of Anyfi. He has also worked as a software engineer for Microsoft and Apple.
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What Makes Terra Unique?
Terra stablecoins offer seamless cross-border value exchange and instantaneous swaps between one another, all while employing instant settlement and extremely low fees for use by anyone, anywhere.
- Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies.
- It keeps its one-to-one peg through an algorithm that automatically adjusts stablecoin supply based on its demand.
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How Many Terra (LUNA) Coins Are There in Circulation?
It has a circulating supply of 400 Million LUNA coins but unlimited supply and it might be very risky to invest money in this kind of projects.
If you are looking to buy or sell Terra, Bitfinex is currently the most active exchange.
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How Is the Terra Network Secured?
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 validate transactions, receiving rewards in proportion to the amount of LUNA staked. Token holders may also delegate others to validate transactions on their behalf, sharing in any revenue generated.
Terra also offers additional guidance to validator nodes on the best practices for helping to keep the network secure.
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Where Can You Buy Terra (LUNA)?
Terra's native token, LUNA, is listed on several cryptocurrency exchanges, where it is available to be traded against fiat currencies, stablecoins and other cryptocurrencies:
- Bitfinex
- Binance
- Huobi
- Upbit
- Gate.io
- BitPanda
References: Special thanks to CoinMarketCap
Note: Don’t Risk More Than You Can Afford to Lose!
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