Blockchain Academy
We'll get together for networking with people interested in Blockchain including developers and anyone curious about Blockchain.

Terra

Terra is a cryptocurrency used in internet shops. Cryptocurrencies, such as Bitcoin or Ethereum are not suitable as means of payment because it is more like gold bars rather than actual currencies with fixed price fluctuations. Terra is invented by Shin Hyun Sung, the founder of Ticket Monster, one of the top 3 social e-commerce companies in Korea. He has developed Terra as a payment system that is used as a joint payment method in strong shopping mall companies in Korea.

The core concept in Terra is 'StableCoin', which means a stable cryptocurrency with little fluctuation in the price. Along of Terra coin, there is Luna token in Terra.

Luna token is designed to stabilize the price of Terra. When the price of Terra falls to a certain level, the number of Luna increases as well as the value, because Luna works like automatic consume fees on transactions. If the price of Terra dropped too low and needed to be deleted, it would be deleted by buying Terra with Luna token, so the value of Terra would rise again.

Terra aims for coin with stabilized price and cryptocurrency as a payment method through this algorithm. As says in its white paper, when using Terra, there is no need to pay fees to big credit card companies such as Visa, Master card, and many people will easily approach to blockchain and dAPP.