A challenging character of cryptocurrencies for users and traders is the extreme price volatility of the assets. The momentum and frequency of movements within a short period can be scary for new and short-term investors. The desire for a relatively stable cryptocurrency that mimics the price stability of the fiat financial market while retaining the privacy, security, and speed of cryptocurrencies like Bitcoin led to the development of Terra Classic. Terra Classic was launched in 2018 and deployed its blockchain in 2019. The stablecoin technology platform combines the relative price stability of real-world fiat currencies with the privacy strengths of Bitcoin (BTC). In addition, it would deploy fast and affordable transactions through its UST stable currency.

The Terra chain developed stable currencies, pegged one to one to the US dollar, The South Korean Won, the Mongolian Tugrik, and other recognized currencies. The Terra chain was created by Daniel shin and Do Kwon, who felt price stability and usability could allay fears of immediate losses and promote a massive embrace and use of cryptocurrencies and blockchain technology. You can purchase on popular cryptocurrency exchanges such as:

What is Terra Classic (LUNC)?

Terra Luna Classic is a public decentralized blockchain protocol. Terra classic powered the UST, Terra’s algorithmic stable coin (TUST), which unfortunately got depegged and plummeted to what seems like its death due to volatile market conditions occasioned and intensified by the crypto recession of 2022. In May, the Luna classic crashed, resulting in the fork of the Terra classic into two separate chains of the Terra Luna classic price prediction and the Terra chain. Terra is an open-source blockchain. Certik certified the modeling and mathematical reasoning of the network as sound in 2019, shortly after the Terra classic’s mainnet was launched.

The Terra classic has since shaken off the stench of death left by what seems like the sudden demise of the UST and set in motion processes that would push the cryptocurrency towards the achievement of its goals, although without the UST. While the new Terra chain will focus on developing the most advanced UX-UI designs started by the Terra classic through the support of the Luna community (Lunatics) and hopes to top and transcend the success of Terra classic, who at one point occupied the second position on Defi’s list of highest coin by locked total value (TVL

Terra classic (LUNC) will continue to advance its network to support the development of decentralized applications. The Proof-of-Stake consensus algorithm powers Terra. This algorithm is based on the Tendermint tech, which allows holders to stake their LUNC assets as collaterals for a chance to validate transactions on the Terra network and receive rewards proportionally commensurate with the value of their staked assets. The native token of the Terra classic network is the LUNC, used for system governance and mining. Validators also collateralize it for a chance to partake in the transaction validation processes on the network.

Terra classic makes virtual payment seamless by creating crypto payment gateways for organizations. It partnered with a mobile-based payment solution platform in Korea to provide payment services to e-commerce platforms. The partnership rewards Terra with a tiny fraction of each transaction as coverage for transaction fees.