Showing posts with the label Cryptocrash

What is the currency of Luna? What is Terra?

What is the currency of Luna? What is Terra? Luna is the underlying token for the Terra blockchain, a platform developed in South Korea to secure digital payments globally using cryptocurrencies. To achieve this, Terra aims to build Stable Coins against fiat currencies, but without a corresponding balance of fiat currencies.  Tera-Luna has established several stablecoins and is maintaining their stability through an algorithm that adjusts the price of the stablecoin. It is possible to convert between these currencies and the network currency Luna directly. Unlike other stablecoins, terra stablecoins do not have reserves, for example BUSD keeps reserves in US dollars. DAI is backed by other cryptocurrencies, while the most popular stablecoin TerraUSD (UST, corresponding to the US dollar), has no reserves and leaves the task of maintaining its stability to an algorithm based on the Luna coin.  The mission of the network currency Luna is to reduce the volatility of the stablecoins so