The price Terra today is 70.41 USD, and the trading volume in 24 hours - 3,246,111,157 USD. The crypto asset has grown by -15.56% over the day. Currently, the coin’s market capitalization is 25,064,498,752 USD, and has 355,979,646 coins in circulation with the max supply of 824,021,173 coins LUNA.
What is Terra (LUNA)?
Terra is a platform of stablecoins with algorithmic management and seignary shares, for which are native a set of tokens tied to a fiat currency and stabilizing crypto asset Luna.
Tokens of the Terra ecosystem are represented by two types: the Stablecoin family Terra and Luna.
LUNA represents the power of Terra's network of stablecoins. The Terra protocol works on the delegated Proof of Stake (PoS) blockchain,where miners need to supply their own Luna cryptocurrency for transaction mining Terra.
Terra's family of stablecoin is tied to major world currencies. Protocol issuesTerra currencies pegged to US dollar, euro, yuan, Japanese yen, pound sterling, Korean won and IMF SDR.
Who is the creator of Terra?
The creators and co-founders of the project are Daniel Shin and Do Kwon. Terra was established in January 2018 with the sole purpose of promoting the mass introduction of cryptocurrencies through the creation of digital assetsthat are stable by relative to the world's major fiat currencies.
Giventhat previous innovations in money technology were initiated by major payment networks ( Alipay with Taobao, Paypal with eBay , Visa with banks), Terra was born with the support ofTerra Alliance, 15 major e-commerce companies in Asiathat collectively process US$25 billion in annual transaction volume, and have 45 million users.
The vision of the project isthat with the introduction and involvement of users in a large payment network, for the first time it will be possible to set up a blockchain-based payment network onthe scale it deserves and facilitatethe use of much more powerful products and uses of its infrastructure.
Daniel Sheen, who has extensive experience in building one of the largest e-commerce platforms in Asia, outlined the existing challenges, with which users encounter on payment networksand which cannot be addressed through gradual improvements.
Do Kwon, who previously founded a startup to create decentralized applications for wireless wire network, explained how Terra can turn these problems into an opportunity to make money from scratch.
What is the uniqueness of Terra?
Terra essentially replaces a complex payment value chain, including credit card networks, banks and payment gateways, with a single layer of chain blocks. Thanks to this, the project can offer sellers a significantly lower transaction fee, saving them moneythat can be reinvest insomethingelse.
In addition, coupled with the efficiencythat Terra has provided by payment channels for both sellers and consumers,it continues to steadily provide infrastructure improvements and tools to create a reliably neutral,distributed and radically transparent ecosystem.
Thanks to the initial mass introduction of blockchain-infrastructure,Terra is naturally moving towards the creation ofanecosystem offering Competitive programmable payments, logistics and infrastructure to ensure the operation of a multitudeof industries that will be based on efficiency and scale.
How many LUNA coins are in circulation?
As of the javnary of 2021, there are 484,354,456 LUNA coins in free float, and there is no maximum offer.
How is Terra's network protected?
Terra Core is based on Tendermint, which relies on a set of validators that are responsible for fixing new blocks in the block chain. These validators participate in consensus protocol by transferring votesthat contain cryptographic signatures signed private key of each validator.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.