Blockchains that support Terra’s UST
Terra is a public blockchain platform that employs a series of algorithmic decentralized stablecoins to support a thriving ecosystem that makes DeFi available to the entire public.
Here are the blockchains that supports Terra:
Ethereum is a system that supports digital currency, worldwide payments, and apps. The community has created a thriving digital economy, daring new methods for creators to earn money online, and much more. It is available to anybody, wherever in the globe — all you need is an internet connection.
Ethereum supported Terra in December 2020.
BNB Chain, one of the world’s most popular blockchains, is committed to supplying the basic infrastructure required for future public acceptance, and will always be a community-first and open-source ecosystem built on a permissionless and decentralized environment.
BNB Smart Chain also supported Terra last January 2021.
On June 2021, Terra received support both from Solana and Secret Network.
Solana is a public, open-source blockchain that allows smart contracts, non-fungible tokens (NFTs), and a wide range of decentralized applications (dApps). The SOL currency, which is native to Solana’s blockchain, provides network security through staking as well as a mechanism of transferring value.
Secret Network is the first blockchain that provides data privacy by default, allowing you to create and utilize permissionless and privacy-preserving apps. This one-of-a-kind feature protects users, secures apps, and opens up hundreds of new Web 3 use cases.
Terra continued to grow and received other multiple blockchains’ support such as Polygon and Harmony in July 2021. Which also followed by Near, Aurora and Injective in December 2021.
Harmony is a layer-1 blockchain that achieves scalability, security, and decentralization using sharding and Effective Proof of Stake. The network, which was established in 2019, has trustless cross-chain bridges and four shards that execute transactions in parallel.
Polygon is a firm believer in Web3 for everybody. Polygon is a decentralized Ethereum scaling platform that allows developers to create scalable, user-friendly dApps with cheap transaction costs while never compromising security.
The native token of NEAR, commonly known as NEAR, is used to pay for transaction fees and storage. Token holders who participate in network consensus as transaction validators can also stake NEAR tokens. NEAR Protocol is dedicated to developing a platform that is both developer and user friendly.
Aurora is a third-generation blockchain-based decentralized application platform aimed to bringing mature blockchain technology solutions to the whole industry.
Injective Protocol (INJ) is a truly decentralized Ethereum-compatible front-running resistant cross-chain protocol. It not only serves existing Ethereum users, but it also aims to bring together users from different blockchain networks into an unified crypto community.
Now this year, 2022, Avalanche and Cello lend their support for Terra in January. What a great start for a great year.
Avalanche is a proof-of-stake blockchain with smart contract capability that is decentralized and open source. AVAX is the platform’s native coin.
Celo is a blockchain that aims to deliver cryptocurrency directly to your phone through a user-friendly interface. Many individuals own smartphones, and many of them use apps like Venmo and Cash App as digital wallets to transmit money to friends and other users.
Thorchain, based on the Cosmos blockchain, is a decentralized liquidity protocol that specializes in cross-chain connection, allowing traders to shift tokens between networks.
Terra has yet again gained a new supporter this March 2022, and many think Terra will continue to grow along with these blockchains.
About Terra
Terra is a blockchain technology that is supported by a collection of decentralized stablecoins. The most widely used is TerraUSD, abbreviated as UST. The stablecoins are held together by a coin known as LUNA. LUNA is a risky cryptocurrency.
