Terra is a blockchain protocol based on the Delegated Proof-of-Stake (DPoS) consensus. Terra is a family of regional stablecoins, such as UST, KRT, MNT and others. Every stablecoin is supplied by the network’s native coin — LUNA.
Stability is provided by the minting and burning mechanisms, should the price of the coin deviate from the market price of the currency it’s based on. Validators (oracles) are responsible for this equality, they set up a special OS for their servers which constantly tracks the real market prices of fiat currencies.
These stablecoins make day-to-day payments easier. Thanks to the initial mass implementation of the blockchain infrastructure of Terra and the payment solution CHAI, which has gained over 1.3 million users by now, Terra is naturally progressing towards creating an ecosystem, which allows for competitive programmable payments, logic and infrastructure to fuel a variety of industries that will be built on efficiency and scope.
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