Review on Luna Coin by Huseyn Akberov

Luna Coin; it is a blockchain protocol that uses stablecoin fixed in fiat currencies to power fixed-price global payment systems. According to the introductory document, Terra offers fast and affordable deals while combining the price stability and wide-ranging adoption of fiat currencies with the censorship blocking power of bitcoin (BTC) infrastructure. Development of Terra began in January 2018 and mainnet is officially launched in April 2019. As of September 2020, Luna; It aims to add additional options by offering stablecoins fixed to the US dollar, The South Korean won, mongolia and the International Monetary Fund's basket of currencies. Terra's local token Luna is used to stabilize the price of fixed-value cryptocurrencies of the protocol. Luna owners can also submit governance proposals and vote.

What is Luna Coin?

Luna Coin, Terra was founded in January 2018 by Daniel Shin and Do Kwon. The duo designed the project to offer price stability and usability, taking advantage of the rapid adoption of blockchain technology and cryptocurrencies. Kwon is CEO of Terraform Labs, the company behind Terra. Prior to developing PTerra, Shin co-founded and managed Ticket Monster, an important South Korean e-commerce platform also known as TMON. He then co-founded Fast Track Asia, a startup incubator that works with entrepreneurs to build fully functional companies. Prior to that, Kwon worked as CEO, founding Anyfi, a startup that offers decentralized wireless networking solutions. Kwon; He also works as a software engineer for Microsoft and Apple.

When Did Luna Coin Come Out?

Luna Coin release date is 2018. Terra aims to distinguish itself from others by using stablecoin fixed in fiat currencies, stating that it combines the unlimited benefits of cryptocurrencies with the price stability of fiat currencies. It maintains a one-to-one fixed price feature thanks to an algorithm that automatically adjusts the supply of fixed-value cryptocurrencies according to its demand. To achieve this, Luna succeeds by encouraging its owners to trade Luna and fixed-value cryptocurrencies at profitable exchange rates in order to expand or reduce the supply of fixed-value cryptocurrencies to meet demand when needed. Terra establishes many partnerships with payment platforms, especially in the Asia Pacific region. In July 2019, Terra announced a partnership with Chai, a South Korea-based mobile payment app, that purchases made on e-commerce platforms using the app would be processed through the Terra blockchain network. Each transaction is subject to a (average) 2-3 percent fee issued to the business owner. In addition, Terra is supported by the Terra Alliance, a group of businesses and platforms that supports its adoption. In February 2019, the Company announced that e-commerce platforms from 10 different countries, representing a user base of 45 million and with a gross property value of $25 billion, are members of the union.

Which Country is Luna Coin?

Luna Coin's country It's America. Luna brings many benefits to the market. Its decentralized and unauthorised structure makes it ideal for the digital economy. The network offers competitive programmable payments, logistics and an infrastructure designed to simplify Dapp and stabilcoin development. Terra is all about interoperability. The network is designed to run on multiple chains that connect with Cosmos IBC. Developers announce plans to extend their protocols, including other top-performing blockchains, in the near future. Terra has a development-oriented agenda. The network allows programmers to create smart contracts in Rust, Go, or AssemblyScript. In addition, you can add extra functionality to your Dapp using the network's oracles. Oracles are off-chain sensors capable of transmitting data to and from the blockchain. Oracles are critical to many blockchain networks, especially when used for price discovery. Building a transparent ecosystem is one of the goals of Terra's development team. The network is built from scratch to replace the complex payments value chain. Terra helps reduce or completely eliminate the need for credit card networks, banks and payment gateways, especially with a single blockchain layer.

How to Buy Luna Coin?

To buy Luna Coin, you need to create accounts on cryptocurrency exchanges. Terra's local token Luna is listed on many cryptocurrency exchanges, including Huobi, Bitfinex and Upbit, where it can be traded against fiat currencies, fixed-value cryptocurrencies and other cryptocurrencies. You can create trading orders for Luna couples through the account created or keep them in your wallet.

What Infrastructure Does Luna Coin Use?

Luna Coin infrastructure is based on stock proof. Terra blockchain is protected by a Tendermint-based proof-of-share consensus algorithm, where Luna token holders are made into shares as collateral to verify transactions and receive rewards based on the amount of Luna invested. Token owners can authorize other users to represent transactions on their behalf, so that generated revenue can be shared. Terra also provides guidance to verifier nodes about applications that can be used to help keep the network safe. In May 2019, shortly after Terra's mainnet was launched, certiK, the blockchain verification and defense testing company, completed the company's security check. Examines its economic model, architecture and coding language to test against market manipulation. CertiK does not comment on the performance of the blockchain, believing that Terra's "modeling and mathematical logic are good".

What are the Advantages of Luna Coin?

Luna Coin benefits are as follows:

 It aims to distinguish itself from others by using stablecoin fixed in fiat currencies, stating that it combines the unlimited benefits of cryptocurrencies with the price stability of fiat currencies.

 It maintains a one-to-one fixed price feature thanks to an algorithm that automatically adjusts the supply of fixed-value cryptocurrencies according to its demand. To achieve this, Luna encourages its owners to exchange Luna and fixed-value cryptocurrencies at profitable exchange rates in order to expand or reduce the supply of fixed-value cryptocurrencies to meet demand when needed.

 Terra establishes many partnerships with payment platforms, especially in the Asia Pacific region. In July 2019, Terra announced a partnership with Chai, a South Korea-based mobile payment app, that purchases made on e-commerce platforms using the app would be processed through the Terra blockchain network.

What are the Disadvantages of Luna Coin?

The disadvantages of Luna Coin are as follows:

 It is a disadvantage that the listed stock market platform on which you are trading is vulnerable to attack. Storing your balance in hardware wallets can be a move to close the vulnerability.

What are the Comments about the Future of Luna Coin?

Judging by the comments regarding the future of Luna Coin, it is observed that it will gain value in long-term investments. Based on the chart data on Luna's future, an uncertain picture emerges. Luna, which has fallen and is in decline at market value of about $16, experiences activity due to BTC. While it is preferable for short-term investment as well as long-term investments, it does not paint a clear picture for the future.