- Category: Terra Ecosystem
- Coin Launched: August, 2019
- Resources: White Paper
- Official Website: Terra
- Reddit: Terra
Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the block chain. It utilizes a basket of fiat-pegged stable coins,
algorithmically stabilized by its reserve currency Luna, to facilitate programmable payments and open financial infrastructure development.
TERRA LUNA History / Information / Buying / Staking
TERRA LUNA HISTORY
Terra was created in January 2018 with the singular vision of facilitating the mass adoption of cryptocurrencies by creating digitally native assets that are price-stable against the world's major fiat currencies.
HOW TERRA LUNA WORKS
Terra is a blockchain network built using Cosmos SDK specializing in stablecoin creation. Rather than use fiat or over-collateralized crypto as reserves, each Terra stablecoin is convertible into the network's native token, LUNA. LUNA allows holders to pay network fees, participate in governance, stake in the Tendermint Delegated Proof of Stake consensus mechanism, and peg stablecoins.
BENEFITS OF USING TERRA LUNA
Some of the benefits of using Terra Luna are:
Can stake LUNA for around 5% interest a year
Terra Station user interface is very slick and easy to use with mobile apps also available
Fast transactions with low fees
Growing ecosystem with strong dApp development
CAN YOU STAKE TERRA LUNA
Luna uses a delegated proof-of-stake consensus method to run smart contracts and validate transactions on its blockchain. Luna stake holders can become a validator or choose another exisiting validator to delegate their coins.
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