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Try Terra on Blockdaemon Blockdaemon provides full end-to-end node management and support for Terra, a peer reviewed third generation Proof of Stake blockchain.

Why Use Blockdaemon? Blockdaemon is the Total Node Management Solution

Blockdaemon guarantees peace of mind, as you never have to worry about maintaining or upgrading your nodes ever again — we look after all of that for you. Our finger is constantly on the pulse of each blockchain we support to ensure all of our nodes remain perfectly healthy. Our extensive experience across protocols lets us expertly monitor, repair and replace nodes where protocol level errors may occur. For any protocol updates needed, we look after these in advance so you never see any disruption in service.

Enterprise Level Security

Security is our top priority here at Blockdaemon. All nodes purchased through us are 100% customer dedicated. This means your node is yours exclusively. You’ll enjoy a dedicated node which has a unique address, its own unique connection and authentication key. Furthermore, these are never reused. We ensure your node is not open and exposed to anyone on the internet. Any nodes you’d like to add on additionally can be done so quickly and easily as well!

A Trusted Partner

Blockdaemon is by your side on your blockchain journey. We are the only infrastructure platform for blockchain nodes which offer multi-cloud and multi-geographical support, with just a few clicks. Want custom configurations and branded experiences? No problem, we provide a unified, whole-org, collaborative rollout to manage a complete network. Whatever your needs, we will work closely with you to deliver the solution you need.

Terra Key Features

Stable

Terra aims to be a family of cryptocurrencies that are each pegged to the world’s major currencies. At genesis, the protocol issued Terra currencies pegged to USD, EUR, CNY, JPY, GBP, KRW, and the IMF SDR. Over time, more currencies will be added to the list by user voting.

Interoperable

The Terra system supports atomic swaps among Terra currencies at their market exchange rates. For example, a user can swap TerraKRW for TerraUSD instantly at the effective KRW/USD exchange rate. This allows all Terra currencies to share liquidity and macroeconomic fluctuations; a fall in demand by one currency can quickly be absorbed by the others. As Terra’s ecosystem adds more currencies, its atomic swap functionality can be an instant solution to cross border transactions and international trade settlements.

Usability

Terra will offer a stable dApp platform oriented to building financial applications that use Terra as their underlying currency, thus allowing smart contracts to mature into a useful infrastructure for mainstream businesses. Terra Platform DApps will help to drive growth and stabilize the Terra family of currencies by diversifying its use cases.

Secure Validator Nodes

Easily run your own validators on Terra or delegate to Blockdaemon’s validators. All of our nodes — from our public validator node to dedicated deployments — follow best practices to be responsible members of the network, keeping our nodes running and participating in network consensus.

Frequently Asked Questions

  • What is the main use case for Terra?

    Terra can be used as a medium-of-exchange in online payments, allowing people to transact freely at a fraction of the fees charged by other payment methods. As the world starts to become more and more decentralized, Terra can be used as a dApp platform where price-stable token economies are built on Terra.

  • How does consensus work in Terra?

    The Terra Protocol runs on a Proof of Stake (PoS) blockchain, where miners need to stake a native cryptocurrency Luna to mine Terra transactions. At every block period, the protocol elects a block producer from the set of staked miners, which is entrusted with the work required to produce the next block by aggregating transactions, achieving consensus among miners, and ensuring that messages are distributed properly in a short timeframe with high fault tolerance. 

  • How are rewards generated in Terra?

    The protocol has two ways of rewarding miners for their work:

     

    • Transaction fees: All Terra transactions pay a small fee to miners. Fees default to 0.1% and are capped at 1%, meaning that transacting with Terra in e-commerce will be much cheaper than transacting with traditional payment options such as credit cards. 

     

    • Seigniorage (Luna burn): When demand for Terra increases, the system mints Terra and earns Luna in return. This is called seigniorage — the value of newly minted currency minus the cost of issuance (which in this case is zero). The system burns a portion of earned Luna, which makes mining power scarcer. The remaining portion of seigniorage goes to the Treasury to fund fiscal stimulus.

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