Coin of the Week  – Luna

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  • February 25, 2022
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25 February 2022.

Terra price is currently trading at today is $66.40, LUNA price is up 23.6% 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. 

Luna can be purchased from cryptocurrency exchanges such as KuCoin or Huobi

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