How has the value of Terra changed in the past 24 hours?

LUNA, the native digital token of the Terra blockchainIt was created in January 2018 and quickly became one of the most popular altcoins, especially among Argentines, who had to look for options in the face of the financial instability that their country has faced for several decades.

To understand LUNA, it is necessary to talk about terra, a blockchain network created through the Cosmos SDK that features the feature: Creating so-called stablecoins They are, as their name suggests, cryptocurrencies that seek stability by linking to fiat currencies, commodities, and more, which “eliminate the volatility that characterizes digital assets.

Terra It seeks to eliminate scenarios where a virtual currency can experience ups and downs in the blink of an eye.As with Bitcoin, to achieve mass adoption and even be used in decentralized transactions and institutions.

In this scenario, Terra wants LUNA users to be able to make purchases using their LUNA devices. Electronic wallets Those receiving payments can have an automatic exchange to another currency, such as dollars or pesos, with a fee of less than one percent.

The cost of Terra cryptocurrency for today at 11:00 AM (UTC) is 0.350419 USDThis means that the digital currency is registered. Change of 8.65% In the last day, as well as the movement of -0.47% in the last hour.

Due to its capitalization level, this cryptocurrency occupies #156 Most Popular.

Cryptocurrencies They are no longer foreign elements and have begun to enter everyday language, awakening the interest of those who care about financial matters or even reaching the level of existence. Legal in some parts of the world.

As the name suggests, cryptocurrencies They use encryption or decryption methods. To carry out transactions in an unregulated system, most of them, through Blockchains (Blockchain), which moves it away from traditional models where banks act as intermediaries.

Its innovation has led to many people becoming interested in investing in digital currencies, as their value has increased significantly in recent years. Bitcoin, Ethereum, Dogecoin The most popular and those with the highest market capitalization.

Each of these units is produced by A process called “mining”. Users can obtain them through different agents or cryptocurrency exchanges, and then store them in “crypto wallets” or conduct various transactions with them using unique keys.

Despite It was in 2009 when Bitcoin entered the market as the world’s first cryptocurrency.The truth is that this is just a boom in the financial field, so its use is expected to increase in the near future.

Cryptocurrencies have different characteristics that make them unique: It is not regulated by any organization.No need for intermediaries in transactions; Blockchains are always used to prevent new cryptocurrencies from being created illegally or transactions already made being modified.

However, in the absence of regulatory bodies such as a central bank or similar entities, They are accused of being unreliable and fickle.promoting fraud, lack of a legal framework supporting its users, allowing illegal activities to operate, among others.

Although it may seem paradoxical, cryptocurrencies simultaneously guarantee security for miners regarding the network they are in (the network) which includes managing the code; Breaking this security is possible but not easy to achieve. Because anyone who tries to do that would have to have more computing power than even Google itself.

Anyone who invests in this type of digital asset should be very clear that this model brings with it a High risk to capitalWell, just as there can be an increase, it can also crash unexpectedly and wipe out the savings of its users.

To store it, users must have a file. Digital wallet or walletwhich is actually a program through which cryptocurrencies can be stored, sent and transacted. In fact, this type of wallet only stores the keys that indicate a person’s ownership and right to a particular cryptocurrency, so it is these tokens that must actually be protected.