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Terra Classic is a decentralized, open-source blockchain protocol that originally powered the Terra ecosystem. Following the collapse of its algorithmic stablecoin, UST, in May 2022, the Terra blockchain underwent significant changes, effectively forking into what is now known as Terra Classic (LUNC) and Terra 2.0 (LUNA). Terra Classic aims to recreate the fundamental attributes of a robust blockchain platform, allowing developers to build decentralized applications (dApps) while providing users with opportunities for staking and governance. The protocol is notable for its focus on interoperability, as it allows various financial applications to operate smoothly on its network.
Terra Classic operates on a proof-of-stake consensus mechanism, in which validators are selected to create new blocks and confirm transactions based on the number of tokens they hold and are willing to “stake” as collateral. The process includes various key components:
The overall architecture of the ecosystem promotes seamless transactions and low latency, making it suitable for a range of decentralized finance (DeFi) services.
Managing your investment in Terra Classic effectively involves several strategic actions:
Yes, at Knaken, you can easily buy Terra Classic with iDEAL, Credit Card, or Bancontact. Check all the options on our fees page
You can find the current price of Terra Classic at the top of this page.
At Knaken, we believe it\'s important to be as transparent as possible about the fees charged to our customers. You can view these fees for each purchase or sale of Terra Classic. Check out our fees on our fees page.
At Knaken, safety comes first. For years, we have ensured that you can not only buy crypto safely on our platform but also store it securely.
Search for Terra Classic in the app or web portal and select “deposit” in the options. You will see the deposit address where you can send the crypto. Make sure to deposit Terra Classic from a verified wallet address with Knaken.
If you prefer personal assistance, you can sign up for our free transfer service.
Yes, search for Terra Classic in the app or web portal and select the withdraw button in the options. Note that you can only withdraw Terra Classic to a verified wallet address.
Knaken Cryptohandel B.V. has applied for a MiCA license from the Netherlands Authority for the Financial Markets (AFM). This application is currently being assessed by the AFM.
Investing in crypto-related products involves significant risks.