CryptocurrencyTerra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra Collapse Teaches About ‘Crypto’ And Bitcoin


Terra is crumbling.

The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $1 peg and LUNA, the blockchain’s native token, nears zero.

Terraform Labs, the tech start-up behind the development of Terra, halted the production of new blocks on the network on Thursday “to prevent goverance attacks following severe $LUNA inflation and a significantly reduced cost of attack,” it said on Twitter.





Original Source Link

Latest News

China tightens reins on quant trading after three-day ban on fund

Drone point view of the Shanghai skyline at sunrise.Aerialperspective Images | Moment | Getty ImagesChina is tightening regulatory...

What Is Multisig?

When it comes to storing your bitcoin, multisignature—or multisig for short—is widely recognized as one of the most...

A profile of ElevenLabs, whose AI voice cloning tech is being used to spoof politicians; five of ElevenLabs' 40 employees are dedicated to trust...

Margi Murphy / Bloomberg: A profile of ElevenLabs, whose AI voice cloning tech is being used to spoof...

Brickbat: Late or Early

Los Angeles station NBC4 reports that the California Department of Motor Vehicles may have improperly charged tens of...

Forget making coffee — Boston Dynamics puts Atlas to work lifting heavy automotive struts in latest flex

Boston Dynamics' flagship Atlas humanoid robot picks up and places heavy automotive struts with ease in new footage.In...

Must Read

Froedtert, ThedaCare Health To Build $35M Hospital in Fond du Lac, Wisconsin

Newly combined health system Froedtert (Milwaukee) and ThedaCare...

DLCs Evolving To Meet Institutional Needs

Discreet Log Contracts are an old concept in...
- Advertisement -

You might also likeRELATED
Recommended to you