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The world of cryptocurrencies was fascinated by the rapid collapse of stablecoin TerraUSD. But that implosion can bring something just as remarkable. It’s the death of a big blockchain.  The Terra blockchain, a platform that enhances a number of decentralized applications that allow users to exchange cryptocurrencies and generate revenue, has been suspended, and then stablecoin TerraUSD (UST) associated with the major cryptocurrency Luna.

In the process, there was no incentive for different parties to support the chain, disrupting the ecosystem that powers more than 110 applications with more than 4 million digital wallets. While the chain is back in action and efforts are being made to continue it, including a new plan proposed by co-founder Do Kwon on Monday to launch a new version of the blockchain without UST. Attempts may be useless.

Luna is close to zero. Since then, many of its features have been disabled.  Kyle Samani, co-founder of Multicoin Capital, said: The end of Terra’s size and depth crypto ecosystem, once valued at over $ 40 billion, marks a milestone in blockchain history. Digital ledger technology was originally pioneered over a decade ago and was developed to support Bitcoin. The foundation of countless cryptocurrencies that have emerged since then. With coins trading for less than $ 1 and many small blockchains already walking dead, very few users are victims of poor design, developer competition, or hacking.

They still have a few loyal fans, many of whom dream of one day the network resurrecting and the value of coins skyrocketing and becoming rich. Today, Terra faces the same predicament, but on a much larger scale.  “I think the volume of transactions is exhausted, transactions are rare, and we’ll die afterward,” said John Griffin, a professor of finance at the University of Texas at Austin.

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Basically, a blockchain is a database that can host hundreds or thousands of applications and record-related financial transactions. They are usually open-source, created and extended by the developer community, supported by computer operators who validate transactions, and tokens or coins specially created for use on that particular blockchain. Tokens also serve as a reward for code improvements, new app development, and staking when owners offer coins to computer operators who order exchanges in exchange for generating income.



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