In this article we are going to talk about Terra Luna, start from the definition until the future its hold. Learn it all here!
Understanding Terra (LUNA)
Terra (LUNA) is a second-generation cryptocurrency that created its own ecosystem after the fall of Terra Classic. Terra was originally designed as a blockchain protocol related to stablecoins, linked to the US dollar and other real currencies.
Despite its promising start, Terra Classic experienced a downfall that resulted in the development team creating Terra 2.0 with fundamental changes, including discontinuity with the UST stablecoin.
Terra Function (LUNA)
The main function of Terra (LUNA) is to maintain the stability of its ecosystem. As the native token of the network, LUNA is used to protect the network from excessive use of certain resources and pay commissions to operators in the system.
Additionally, Terra (LUNA) allows users to access various solutions in the DeFi (decentralized finance) ecosystem.
The Future of Terra (LUNA)
The future of Terra (LUNA) is in the spotlight of controversy due to legal issues involving founder, Do Kwon.
While there remains potential for further innovation and development within its ecosystem, the uncertainty surrounding the outcome of the investigation and its legal ramifications creates uncertainty in the direction Terra (LUNA) will take going forward.
History of Terra (LUNA)
The history of Terra (LUNA) began in January 2018, when the project was first designed by Daniel Shin and Do Kwon.
Terra Classic was initially successful on the principle of indexing itself to fiat currency, but experienced a significant downfall. In an effort to improve its image and maintain its ecosystem, Terra Classic evolved into Terra 2.0 in May 2022.
Why Terra (LUNA) Was Created
Terra (LUNA) was originally created with the aim of democratizing access to cryptocurrencies by linking them to real currencies, such as the US dollar.
However, the reasons behind the creation of Terra 2.0 remain a mystery due to financial and legal issues involving the founders and controversial policies taken by the development team.
How Terra (LUNA) Works In Detail
Terra (LUNA) works as a cryptocurrency that utilizes blockchain technology. With the proof-of-stake (PoS) protocol, LUNA can be staked by users who become validators. The Terra.Money ecosystem provides a variety of DeFi tools and solutions that enable developers to create advanced applications with smart contracts.
Terra (LUNA) Founder Legal Issues
The legal issues facing Do Kwon, the founder of Terra (LUNA), include a number of serious charges, including passport forgery and transferring assets to Bitcoin to avoid recovering funds. The extradition that Kwon faces and the legal uncertainty creates great uncertainty surrounding the future of Terra (LUNA).
Terra Conclusion (LUNA)
With all the controversy and uncertainty surrounding Terra (LUNA), a comprehensive conclusion about its future is difficult to predict. Although the ecosystem offers attractive DeFi solutions, legal challenges and damaged reputations create an atmosphere of uncertainty. For investors, it is important to consider the risks thoroughly before engaging in a transaction involving Terra (LUNA).
Thus, Terra (LUNA) remains an interesting cryptocurrency to follow, but with the caveat of potential inherent risks.
How to Buy Terra (LUNA) on Bittime
You can buy and sell Terra tokens (LUNA) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. LUNA is available on Bittime with pairingTerra (LUNA) IDR
To be able to buy LUNA/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make MANTA purchases in the application.
Monitor price chart movements of Terra (LUNA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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