With a current market capitalization of over US$12 million, Terra Luna is one of the top 200 digital currencies by market capitalization. The terra luna price has fluctuated between US$0.0001 and US$0.0008 over the past year, and is currently trading at around US$0.0004.
Terra Luna was launched in July 2014 as a “proof of concept” coin by a team of four anonymous developers. The coin’s focus is on providing a stable and secure digital currency with a low inflation rate.
To achieve this, Terra Luna uses a unique “proof of stake & burn” consensus algorithm which rewards holders of the currency for “staking” (holding) the coin in their wallet. This staking process helps to secure the network and also results in a reduction of the coin’s supply, over time, as staked coins are effectively “burned” (removed from circulation).
The Terra Luna team is committed to maintaining the stability of the coin and has implemented several mechanisms to help achieve this. These include a dynamic block reward which reduces the block reward as the coin’s price increases, and a “max supply” which limits the total number of Terra Luna coins that can ever be produced.
In January 2015, the Terra Luna team announced that they had successfully implemented “side-chain” technology which allows the currency to be traded on exchanges and used in applications without the need for a central third-party.
In May 2017, the Terra Luna team announced that they had completed a successful coin swap from the Proof-of-Work algorithm to the Proof-of-Stake algorithm. This change means that Terra Luna is now a “pure” Proof-of-Stake currency and no new Terra Luna coins can be created.
Looking to the future, the Terra Luna team is focused on continuing to grow the community and ecosystem around the coin. They are also working on further improving the coin’s technology, including adding support for smart contracts.
With a strong focus on stability and security, Terra Luna is positioning itself as a digital currency that can be used for everyday transactions, as well as being a store of value. With a limited supply and a growing community, the prospects for Terra Luna look promising.