What is Terra blockchain?

Terra is an open-source blockchain payment platform for an algorithmic stablecoin, which are cryptocurrencies that automatically track the price of currencies or other assets. The Terra blockchain enables users to instantly spend, save, trade, or exchange Terra stablecoins.

What is Terra – a stablecoin?

Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It is most known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency .

What is Terra cryptocurrency & how does it work?

The Terra protocol creates stablecoins designed to consistently track the price of a fiat currency (a government-backed currency such as the U.S. dollar or euro). It consists of two cryptocurrency tokens—Terra and Luna. Terra is an open-source blockchain protocol that underpins algorithmic stablecoins and a network of financial applications.