Cryptocurrency Market: What is the price of Terra?

LUNA, the native cryptocurrency of the Terra blockchainwas created in January 2018 and quickly became one of the most popular altcoins, especially among Argentines, who 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, a blockchain network created through the Cosmos SDK that is private. Creating so-called stablecoins As the name suggests, they are cryptocurrencies that seek stability by linking to fiat currencies, commodities, etc., which “get rid” of the volatility that characterizes digital assets.

Terra It aims to eliminate scenarios where a cryptocurrency can experience sudden movements 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.

While the debate is getting hotter every day about whether or not it is appropriate to use it, Terra is trading today at 11:00 AM (UTC) at $0.322195, a change of -1.06%. Regarding the past 24 hours and Variance -0.99% Referring to the value it reached in the last hour.

In terms of its popularity in the market, it has maintained its position. #161 Between cryptocurrencies.

Cryptocurrencies They are no longer foreign elements and have begun to enter the language of everyday life, 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, virtual currencies They use encryption or decryption methods. To carry out transactions in a decentralized 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, then store them in “crypto wallets” or make different transactions with them using unique keys.

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

Cryptocurrencies have different elements 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 changing transactions that have already been made.

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 difficult. 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.