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Introduction to Terra

27 January 2022 Be the first to comment

Rohas Nagpal

Rohas Nagpal

Chief Blockchain Architect

Hybrid Finance (HyFi) Blockchain

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

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Blockchain in Banking and Financial Services

This group is to share any information related to enterprise wide Blockchain technology adaption in different Banking Financial Services sub-domains.

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Rohas Nagpal

Rohas Nagpal

Chief Blockchain Architect

Hybrid Finance (HyFi) Blockchain

Member since

02 Oct 2016

Location

Wyoming

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