At the start of 2021, Terra had just 2 applications, yet that quickly changed in a year– and it now has hundreds.
Much of this growth is due to Terra’s ecosystem, with a community of programmers constantly developing decentralized applications on top of Terra. Why did Terra grow?Back in July 2021, Terraform Labs, the firm behind the Terra blockchain, raised$150 million from several financiers, including Arrington Resources, Lightspeed Venture Allies as well as Pantera Capital. In a meeting, Kwon said that what promoted Terra’s solid community is rooted in the principle of decentralized cash, which Terra is able to attain with its mathematical stablecoins. Terra has a family members of stablecoins that are fixed to numerous fiat currencies, such as the United States buck, euro as well as Oriental won. Such a design makes Terra’s stablecoins more decentralized, perhaps deflecting regulatory concerns that beset other stablecoins.