Get to Know Luna Crypto Closer

Terra is a blockchain and layer 1 payments ecosystem powered by the stablecoin algorithm. Terra's flagship, Luna crypto is the 11th largest ever crypto asset in the world with a market capitalization of US$15.6 billion. 

Unfortunately, at this time Luna crypto has fallen by 90 percent and is down badly. At the time of writing, this one asset is in position 98 according to Coinmarketcap.

Get to know Terra Luna Crypto

Terraform Labs developed this pattern in January 2018, which was founded by entrepreneurs Daniel Shin and Do Kwon. The core of the Terra ecosystem is a stablecoin called the Terra currency and the legal token LUNA.

Terra's main product is Terra USD (UST), a US dollar-denominated stablecoin. As the fifth largest stablecoin on the market, UST is one of the fastest growing assets and reached a market capitalization of US $2.5 billion just one year after its launch.

Stablecoin Terra uses a flexible currency policy to ensure price stability and growth. This means that stablecoin Terra achieves a stable price by adjusting supply as demand changes in real time.

Terra is built on top of the Cosmos SDK and uses the Tendermint authentication system Delegated-Proof-of-Stake (DPOS). Currently, the protocol includes 130 sponsors hosted by the fund.

The main role of the sponsor is to monitor, execute transactions and secure the network using full nodes. In addition to the sponsor, Luna crypto brand holders can transfer their brand to the sponsor as an agent.

Sponsors and agents share the same responsibilities and risks. Both can suffer losses if support tries to attack the network.

With hundreds of supporters, Terra is not a foolproof blockchain. Similar to other DpoS blockchains, namely Cardano, EOS, and TRON, Terra prioritizes performance, scalability, and interoperability over decentralization.

Also read: 4 Terra Luna Trading Places You Need to Note

Luna Crypto platform

Although Terra is still managed by Terraform Labs, LUNA token holders can participate in policymaking through staking. Terra supporters can submit protocol update proposals and use LUNA as a vote.

While other Layer 1 systems focus on crypto-savvy markets, Terra focuses on non-crypto markets as a growth strategy. Using the UST stablecoin, a security system like Anchor, and a synthetic trading platform, Terra is well positioned to drive real-world adoption.

Additionally, Terra will receive the Columbus 5 update which will add a deflation mechanism, similar to the EIP-1559 update on Ethereum. Therefore, the LUNA price recently set a high. 

Currently Luna crypto has fallen and is at a price of Rp. 41,433 at the time of writing this article. The price has gone up by 24 percent in just one day.

Also read: Terra Luna Predictions For September 2022

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