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What is Terra all about
Terra was founded in January 2018 by Daniel Shin and Do Kwon, two entrepreneurs from South Korea. Terra is a blockchain protocol specially designed for empowering global payments system with the help of stablecoins. The company under which Terra functions is named Terraform Labs.
Terra has a native token called LUNA which is used to stabilize the prices of stablecoins in Terra’s protocol. Luna holders can also participate in governance of the protocols Terra holders can also submit proposals with small initial deposits which are later approved or rejected by Terra community through a democratic process.
Terra runs on Proof-of-Stake (PoS) consensus mechanism. Miners stake LUNA and also get rewarded in LUNA for adding blocks to Terra’s blockchain. The rewards which miners receive are in the form of transaction fees and seigniorage. Seigniorage is equal to the value of the newly minted currency – the cost of issuance. On the Terra ecosystem, seigniorage is the value of new minted crypto because the cost of issuance is zero. The protocol also charges 0.1%-1% tax on each transaction which are also paid to the validators but used to stabilize the token prices.
Terra has formed Terra Alliance which is a group of 15 (and growing) e-commerce and payment platforms. Terra has built an app called CHAI which is already used by more than 3 million users completing around 100,000 transactions daily. South Korea’s 15 leading banks are already partnered with Terran and support CHAI app. As of November 2020 Terra has processed $330 million worth of payments.
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LUNA Questions & Answers
What is the current Terra price?
Today's price of Terra is at 0.00012748 EUR.
What was the highest Terra price ever?
Terra's price was the highest on 2022-04-05, at 108.71 Euro.
What will Terra be worth in three months time?
In accordance with our price prediction we suspect that Terra's value will be between €39.67 and €96.62 in three months time.
What will Terra cost next month?
According to our prediction, we suspect that the cost of Terra will be between €39.67 and €82.81 one month from now.
How much will Terra be worth in half a year?
Accurate long term forecast is very difficult, however on the basis of our prediction algorithm we expect that Terra's price will be between €39.67 and €109.64 half year from now.
How popular is Terra on social media?
80149 users participated in discussing Terra on Reddit in the last 2 days. Terra's official Twitter handle is currently followed by 1145502 people.
10 days Terra price forecast
Long term Terra price prediction