Terra is a blockchain protocol that supports stable programmable payments and open financial infrastructure development. It is supported by a basket of fiat-pegged, seigniorage share style stablecoins which are algorithmically stabilized by its native cryptoasset, Luna.
One part of Terra’s value contributions, payments, in essence replaces the complicated payments value chain, including credit card networks, banks, and payment gateways with a single blockchain layer. In concert with the efficiencies that Terra has provided payment channels for both merchants and consumers, it continues to steadily provide infrastructural improvements and tools for the foundations of laying down a credibly neutral, distributed, and radically transparent ecosystem.
Terra is powered by Tendermint BFT consensus, using a dPoS-like scheme driven by a set of 100 top validators. This consensus model enables batches of transactions to occur in only 6 seconds (only a fraction of the time it takes for Bitcoin and Ethereum).