Saturday, October 1, 2022

How the value of the LUNA cryptocurrency has changed in the last days

How the value of the LUNA cryptocurrency has changed in the last days

LUNA terra. is the root token ofOne blockchain Founded in 2018, it launched its mainnet in April 2019 through the Cosmos SDK platform, which is a so-called . focused on creating stable coins,

In this scenario, LUNA acts as a guarantee for the rest of the digital currencies it uses. EarthLike USD, so that they can be converted back to LUNA later, which makes it different from other stable coins,

To “anchor” the Terra stablecoin, miners or cryptocurrency maker You must convert it to a fiat value, i.e. a stable currency in Euros will be convertible into LUNA for the value of one Euro; same will happen with other types of currencies E.g. a dollar, an Argentine peso, a won, a yen, among others, thus guaranteeing its “stability” by keeping it at a fixed rate.

For example, if the price of Tera UST is $9.98, the swap would be one dollar, so the user would earn two cents, such a situation. This would increase the demand for UST and reduce supply through burning (the destruction of some units), which would increase the price while the quantity demanded was conserved.

The relatively new digital currency raised questions about its perceived stability after the first days of May 2022, the cryptocurrency faced a crisis that was dragging one by one and investors of the Terra Blockchain began to get rid of them. Causing a “jerk” in the arithmetic system Used to stabilize its value, meaning that LUNA fell 99% of its value. With this, its value of $ 118 closed below 0.0001 percent.

Hour: 4:05 pm (UTC time)

Valor: $2,0821074

Changes in the last 24 hours: -2.73%

last hour change: 0.28%

Popularity by Capitalization: #226

cryptocurrency They cease to be external elements and have begun to enter the language of everyday life, arousing the interest of those who are concerned about finances or even points of existence. are up to legal in some areas of the world,

As the name implies, digital currencies They use cryptographic or encryption methods to conduct transactions in a decentralized system and most of them, through block chain ,blockchain), which does it away from the traditional model in which banks act as intermediaries.

Its innovation has made many people interested in investing in digital currencies, as its value has increased significantly in recent years. Bitcoin, Ethereum and Dogecoin Most popular and having the highest capitalization in the market.

each of these units. created through a process called “mining” And users can obtain them through various cryptocurrency agents or exchanges, and then store them in a “cryptographic wallet” or perform various transactions with them through unique keys.

Although It was in 2009 that bitcoin entered the market as the world’s first cryptocurrency.The truth is that these are experiencing a boom in the financial sector right now, so their use is expected to increase in the near future.

Cryptocurrencies have different characteristics that make them unique: Not being regulated by any organization, Intermediaries are not required in transactions; And almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or modifying transactions already done.

Bitcoin ATM in Recoleta.  (file, archive)Bitcoin ATM in Recoleta. (file, archive)

However, in the absence of regulators such as a central bank or similar entities They are indicated as being unreliable, unstableencourage fraud, have no legal framework that supports its users, allow illegal activities to be conducted, etc.

While this may be a contradiction, cryptocurrencies in turn guarantee their miners security in terms of the network in which it is located (the infrastructure) and this means code management; Breaking this protection is possible but difficultBecause whoever tried it must have even more computational power than Google itself.

Anyone who invests in this type of digital currency should be clear that this form brings with it a high risk to capitalWell, just as growth can happen, so too can an unforeseen crash and end the savings of its users.

To store them, users must have a digital monadero or wallet, which is actually a software through which it is possible to save, send and transact cryptocurrencies. In fact, this type of wallet only stores the keys that mark an individual’s ownership and rights over a certain cryptocurrency, so these codes are what really should be protected.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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