Features of the Terra cryptocurrency token


The Terra Cryptocurrency Protocol (LUNA) has a unique structure and it is used to store stablecoins. The digital token maintains price stability, but the main goal of the system is to provide assistance to all participants in the process, namely sellers, end consumers. The protocol of the system works on the basis of the Proof of Stake consensus mechanism, where miners can freeze the owned LUNA cryptocurrency in order to confirm transactions on the network.

Description of cryptocurrency and platform Terra

Terra is a decentralized blockchain platform that was created in 2018 by developers Doo Won and Daniel Shin, they are employees of Terraform Labs. And it was she who brought several unique concepts and ideas to the crypto market.
The main uniqueness of the platform is that it is a complete ecosystem. It includes a mechanism for providing coins (stablecoins), and also maintains the rate, it includes blockchain oracles, smart contracts, and all of them automatically process transactions on the platform.
According to https://www.coinail.com/, Terra’s goal is to create a global and efficient payment system based on decentralized technologies. This ensures fast and cheap transactions, as well as cross-border payments. The Terra platform has excellent compatibility, it operates on multiple blockchains, which ensures a high degree of decentralization.

Peculiarities

The ecosystem has an extensive structure that includes a large number of different protocols that operate on top of the Terra platform.Thanks to them, good performance is maintained, as well as decentralization of operations.

When the main conditions interact, a number of features are observed:

  • Excellent transaction speed. The platform uses a protocol that has increased scalability. And according to the latest research, this year the speed indicator reached 1000 TPS in 60 seconds, but in the subsequent period it is planned to increase to 10 thousand. Processing of one operation occurs within 6 seconds;
  • Emission. The largest number of coins is limited to 1,000,000,000 coins. If the threshold is exceeded, then excess coins will be burned, this is required to achieve equilibrium;
  • Security. The Terra cryptocurrency has no collateral. The value of coins is pegged to the price of fiat, but the latter has no support from gold or currency.

Terra cryptocurrency cannot be mined using mining. This is due to the fact that it is based on PoS, which does not allow you to mine coins using GPUs or ASIC devices.
But Terra Tokens can be purchased on various exchanges. They are available on more than 30 platforms, and among them are Binance, Huobi, OKEx. You can also get intermediaries through websites, buy from a private trader.

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