LUNA is the native token of terraa blockchain founded in 2018 that launched its mainnet in April 2019 through the Cosmos SDK platform, which focuses on the creation of so-called stablecoins.
In this scenario, LUNA acts as a guarantee for the rest of the digital currencies to which it uses landlike the USD, so that they can later be converted back into LUNA, which makes it different from other stablecoins.
In order to “pin” a Terra stablecoin, the miner or cryptocurrency creator You must convert it to a fiat value, that is, a stablecoin in euros would be convertible to LUNA for the value of one euro; the same would happen with other types of currencies such as a dollar, an Argentine peso, a won, a yen, among others, thus guaranteeing its “stability” by keeping it at a fixed rate.
The cost of terra cryptocurrency for this day at 11:00 am (UTC) it is 0.6138 dollars per unit.
This means that the digital currency reported a change of -2.23% in the last day as well as a variation of 0.4% in the last 60 minutes .
Currently, terra is ranked #151 in popularity in the digital market. It is worth mentioning that the historical maximum that this digital currency has reached is 19.54 dollars per unit.
Cryptocurrencies They are no longer foreign elements and have begun to enter everyday language, awakening the interest of those who are concerned about finances or even reaching the level of being legalized in some regions of the world.
As their name says, virtual currencies they use cryptographic or encryption methods to carry out transactions in a deregulated system and, most of them, through block chains (blockchain), which distances it from traditional models where banks function as intermediaries.
Its innovation has caused many people to be interested in investing in digital currencies, since its value has grown considerably in recent years, being bitcoin, ethereum and dogecoin the most popular and those with the highest capitalization in the market.
Each of these units are produced through a process called “mining” and users can acquire them through various virtual currency agents or exchanges, and then store them in “cryptographic wallets” or make various transactions with them using unique keys.
Although It was in 2009 when bitcoin entered the market as the first cryptocurrency in the world.the truth is that these are just experiencing a boom in the financial field, so it is expected that their use will be greater in the not so distant future.
Cryptocurrencies have several factors that make them unique: not being controlled by any institution; not requiring third parties in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being modified.
However, by not having regulators such as a central bank or similar entities they are accused of being unreliable, of being volatilepromote fraud, not have a legal framework that supports its users, allow the operation of illegal activities, among others.
Although it could be a paradox, at the same time cryptocurrencies guarantee security to their miners regarding the network in which it is located (network) and which implies code management; Hacking this security is possible but not so easy to achieve since whoever tried it would have to have a computational power greater than even that of Google itself.
Whoever invests in this type of digital assets must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also unexpectedly crash and wipe out the savings of its users.
To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and transact cryptocurrencies. In reality, this type of wallet only stores the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that should actually be protected.
