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KRT

TerraKRW (KRT)

Buy TerraKRW

Exchange rate TerraKRW:

0.002609zł

-6.07%

Market capitalization

101461564 PLN

Volume (24h)

0 PLN

Supply in circulation

38882366949 KRT

All-Time High

-

All-Time Low

-

Popularity by CMC

#569
The current rate TerraKRW KRT is $0.002609. In the last 24 hours, the price of TerraKRW has decreased by -6.07% and the 24-hour volume of this cryptocurrency is $0.00. The cryptocurrency in the last 24 hours recorded the highest price at the $0.00, while its lowest was $0.00. The highest TerraKRW price in the last 7 days was $0.00, and the lowest price was $0.00. Exchange rate TerraKRW in the last 30 days increased by 776.7%.
Cryptocurrency calculator
Źródło danych: Coinmarketcap.com
1h 24h 7d 14d 30d 1y
-1.93% -6.07% -4.03% -12.67% 776.7% -22.52%
Źródło danych: Coinmarketcap.com

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Table of Content

  • What Is Terra (LUNA)?
  • Founders of Terra
  • Features of Terra
  • How secure is Terra?

What Is Terra (LUNA)?

Terra uses fiat-pegged stablecoins as a payment system that is price-stable globally. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.Terra's development began in January 2018 with its mainnet launching in April 2019. As of September 2021, the coin will have stablecoins tied to the U.S. dollar, South Korean won, Mongolian tugrik and IMF's world currency and it intends to roll out additional options. A Terra token, LUNA, is used to stabilize the price of stablecoins. Holders of the token can also submit and vote on governance proposals, making it the protocol's governance token.

Founders of Terra

Terra was founded in January 2018 by Daniel Shin and Do Kwon. They envisioned Terra as a platform that would boost blockchain adoption and cryptocurrency adoption through price stability and usability, among other things. Kwon took on the position of CEO of Terraform Labs, the company behind Terra. Terra was founded by Shin after he co-founded and headed TMON, a popular South Korean e-commerce platform. He later co-founded Fast Track Asia, a startup incubator working with entrepreneurs to build fully functional companies. Previously, Kwon owned and operated Anyfi, a startup that offers decentralized wireless mesh networking solutions. He was also a software engineer at Microsoft and Apple.

Features of Terra

  • Terra holds the position that it is unique because of using fiat-pegged stablecoins, combining the borderless advantages of cryptocurrencies with the day-to-day price stability of fiat currencies. Its one-to-one peg is maintained by an algorithm that automatically adjusts stablecoin supply based on its demand. It does so by encouraging holders of the LUNA token to trade it for stablecoins at appropriate exchange rates, enabling the supply of stablecoins to be expanded or contracted.
  • Terra has established a number of partnerships with payments platforms, particularly in the Asia-Pacific region. In July 2019, Terra announced a partnership with Chai, a South Korea-based mobile payments application, in which purchases made using the application on e-commerce platforms are processed via the Terra blockchain network. Each transaction is subject to (on average) a 2%–3% fee charged to the merchant.
  • Terra is supported by the Terra Alliance, a group of businesses and platforms advocating for the adoption of Terra. The company announced in February 2019 that ten e-commerce platforms from 10 countries have joined the alliance, representing a user base of 45 million and a gross merchandise value of $25 billion.

How secure is Terra?

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. Tokenholders can also delegate other validators to validate transactions on their behalf, allowing them to share in any revenue generated. Terra also offers best practices guidance for validator nodes to assist with network security. In May 2019, shortly after Terra's mainnet went live, blockchain verification and penetration testing firm CertiK completed a security audit of the network. A test of its economic model, its architecture and its coding language was conducted to determine whether it was susceptible to market manipulation. In its analysis, CertiK found that the Terra network's "modeling and mathematical reasoning" appeared to be "sound," although it refused to elaborate on its performance.

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Źródło: Tokeneo

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