$52 921
-6,59%
$4156,27
-8,42%
$0,8998
-7,41%
$0,1356
-14,83%
$0,0918
-6,62%
Published by: 23:17, 18 March 2021

Luna

LUNA is a token of the Terra blockchain network (based on Tendermint, consensus algorithm - proof-of-stake, total issue of 1 billion tokens), which is intended to stabilize the price of stable coins (stabelcoins) in circulation of this global payment system built using cryptography. Terra uses stabelcoins, the rate of which is pegged to the leading fiat currencies, to make quick payments between users.

luna terra cryptocoinexpert


A brief description of the Terra protocol mechanism is as follows:

A 1:1 ratio of cryptocurrency and fiat currency exchange rates is achieved through an algorithm that automatically influences the market availability and supply of stablcoin depending on market need and current demand. This is achieved by encouraging the owner of LUNA coins to exchange them for stabelcoins at currently favorable exchange rates, should the need arise. Ultimately, the demand for stabelcoins is regulated by increasing or decreasing their supply in the market.

The development of the Terra protocol was launched in January 2018, with the core blockchain network officially beginning to process transactions in April 2019. The network is constantly evolving and adding new stable coins that are pegged to USD, KRW, MNT and Special Drawing Rights (SDRs) of the International Monetary Fund, among others. Terra's partnerships are aimed at developing expansion in the booming and densely populated Asia-Pacific region.

One of Terra's innovations has been its partnership with a mobile payment app in South Korea, with Terra's blockchain processing and storing purchase and payment data in the app, with fees of 2-3% of the transaction amount.

According to company reports in 2019, Terra blockchain processed 25 million USD worth of transactions, with about 45 million users from 10 countries in the region.

LUNA, Terra's blockchain token, is traded on cryptocurrency exchanges and decentralized exchanges.

Luna price now



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