Coin of the Week – Luna
- Post by: bag2q
- March 11, 2022
- Comments off
11 March 2022.
Terra price is currently trading at today is $97.08, LUNA price is up 0.2% in the last 24 hours, making it our coin of the week!
What is Luna?
Luna is the reserve currency of the Terra platform. It has three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stable coins, and iii) provide incentives for the platform’s blockchain validators.
The Terra protocol runs on a Proof of Stake (PoS) blockchain, whereby miners must stake their Luna in order to mine transactions. All else being equal, a validator who has staked more Luna has a higher chance of generating the next Terra block compared to another validator who has staked less. In essence, Luna represents a validator’s mining power.
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