LUNA, the native digital currency of the terra blockchainwas created in January 2018 and has quickly become one of the most popular altcoins, especially among Argentines, who have had to look for alternatives to the financial ups and downs that their country has faced for several decades.
To understand LUNA it is necessary to talk about terra, the blockchain network established through the Cosmos SDK software and which has the peculiarity the creation of so-called stablecoins which, as their name indicates, are cryptocurrencies that seek stability through a link with legal currencies, commodities, among others, which “get rid” of the volatility that characterizes digital assets.
Terra aims to eliminate scenarios where a cryptocurrency can face ups and downs in the blink of an eyeas is the case with bitcoin, to achieve mass adoption and so that this currency can be used in decentralized transactions and institutions.
In this scenario, terra wants LUNA users to be able to make purchases with their electronic wallets and those who receive payments can have an automatic exchange to another currency, such as the dollar or the peso with fees of less than one percent.
The value of the terra cryptocurrency for this day at 11:00 am (UTC) is 0.546133 dollars. This means that the digital currency reported a change of -1.9% in the last day, as well as a movement of -0.22% in the last hour.
Due to its level of capitalization, this digital currency occupies the position #150 among the most popular.
Virtual currencies were born in 2008 as an alternative to the devaluation of several currencies as a result of the economic crisis of that year.
The first digital asset created was the bitcoin and over time others emerged like litecoin, ethereum, bitcoin, cash, ripple, dogecoinsome of the most popular.
Cryptocurrencies work through a cryptographic encryption that guarantees the security of transactions, as well as control of the creation of your coins .
To make transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.
It is worth mentioning that cryptocurrencies are digital assets that do not physically exist and, unlike currencies such as the dollar, euro or peso, they are not regulated by any institution and do not require intermediaries in transactions.
The latter has caused cryptocurrencies to not be viewed favorably by the formal market, accusing them of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.
However, little by little the way has opened to such a degree that companies, millionaires and even governments have encouraged or authorized its use.
One of the richest men in the world, Elon Musk, has made comments in favor of cryptocurrencies such as bitcoin and dogecoin, temporarily allowing their use in the electric car company Tesla, which caused, at the time, the increase in their cost.
