Terra is a new-generation public blockchain protocol deploying a suite of algorithmic decentralized stablecoins that ensures validity of digital financial transactions to its users.
The ecosystem is easily scalable and is already spreading to millions of users in several countries around the world. Network security and stability is being provided by stakers (PoS). The protocol has been verified by audit companies and has been successfully operating since 2019.
Read the full Terra whitepaper to get detailed information about its core financial logics
Features of the Terra ecosystem
Terra is a price-stable cryptocurrency designed for mass adoption, and at the moment it is already a full-fledged financial infrastructure for the new generation of decentralized applications.
✓ Algorithmic stablecoins. The Terra payment network uses a suite of stablecoins pegged to major fiat currencies. A protocol that ensures cryptocurrency price stability through algorithmic expansion and supply reduction. Terra is capable of supporting a global payment network by linking with world currencies.
✓ Cross platform. The network is focused on creating a medium of exchange that can be freely used across a variety of e-commerce platforms. Special services called Bridges are used to convert Terra token to other blockchains like Ethereum, Solana. According to the developers, a currency that cannot be freely spent has no value.
✓ Seigniorage - a special scaling system. When user activity increases, the system automatically issues Terra tokens and converts them into LUNA token. Seigniorage is the value of the newly minted currency minus the cost of the issue (this in this case is equal to zero). The system burns part of the earned LUNA, reducing production volumes.
✓ Creation of conditions for financial innovation. Terra to become an open platform for fundamentally new financial dApps and thereby increase the real GDP of the blockchain economy.
Terra is modernizing the traditional payment system with a single blockchain.
This provides the following benefits:
Reduced transactional and operational costs
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