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Intro to Terra

Intro to Terra

Terra is the second-largest Decentralised Finance (DeFi) blockchain — after Ethereum. The total value locked (TVL) in Terra is over $15 billion.

Terra is an open-source public blockchain protocol for algorithmic stablecoins. It enables the creation of fiat-pegged stablecoins that can be spent, saved, traded, or exchanged on the Terra blockchain.

The protocol consists of 2 main tokens:

1. Terra stablecoins: These are stablecoins that are minted by burning Luna.

2. Luna: This is the protocol’s native staking token that is used for governance and in mining.

The top 5 DeFi protocols that run on Terra are Anchor, Lido, Astroport, Terraswap, and Mirror.

Consensus mechanism:
Tendermint Delegated Proof of Stake

Intro to Terra

Intro to Terra was originally published in Blockchain Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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