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More than 160 new projects will be launched on the Terra network early next year


Collaborating with mid-range protocols and launching more than 160 new projects on the Terra network has given experts a bright future for the digital currency, and its developers expect the Terra ecosystem to be widely welcomed soon.

to the Report CryptoSlit, the main focus of Korean company Terraform Labs, the developer of the ChinaTra blockchain and its digital currency, LUNA, continues to expand the network.

While the main impact of the Columbus 5 upgrade on the Terra network has not yet been revealed, the Inter-Blockchain Communication (IBC) and Wormhole Intermediate Protocols are expected to support blockchain soon. Start China.

160 new projects in Terra network

The Columbus 5 update was successfully launched in late September, and according to the developers of the Terra network, the ecosystem will soon be widely welcomed.

“Do Kwon, co-founder and CEO of Transform Labs, said in an interview with AsiaMarkets:

Now that Columbus 5 has been launched, more than 60 projects are being prepared that will be launched in another 6 to 8 weeks. In addition, more than 100 programs have recently been introduced for the end of 2021 or the beginning of 2022.

In this interview, Cowan explained that network upgrades have opened up countless paths for the development of your ecosystem. According to Cowan, this not only increases the use of the QuinTra stable, but also increases the value of its native token, Luna.

The CEO of Transform Labs continued:

More projects will increase diversity and demand in the Tera network. In addition, it will increase the supply of StableQueen and increase the value of Luna for its holders.

What is Stable Queen Terra and what is its future?

Terra Network Stable Coin, or UST, is currently the fifth most stable digital currency on the market. This algorithmic stable coin uses the main token of Tera network, Luna, and its price is almost equal to the US dollar.

Kwan says:

Legal action against centralized steel coin operators, such as the USC (USDC) and Tetra, demonstrates the importance of decentralized stable coins such as the UST.

He added:

Since the models [پیاده‌سازی] Coin stables are not well-scalable and act as a risk factor in decentralized finance (DeFi), we expect the acceptance of decentralized coins to increase in the coming months and years.

Impact of Intermediate Protocols

The IBC Chain Protocol will connect the Terra network to the myriad decentralized applications operating in the Cosmos ecosystem, and will also allow the UST StableCoin to be moved between the two networks.

The IBC helps powerful networks to communicate with each other, making it easier to transfer tokens between the Cosmos network and other blockchains that are compatible with this protocol.

Referring to the role of the IBC communication bridge in reducing the difficulty of transferring UST to other networks, Kwan said:

ورم‌ هول [هم مانند IBC] It is a bridge connecting the Solana, Ethereum and Bainance Smart China. This mid-chain bridge allows users to transfer their tera-based assets such as UST to the largest networks in terms of total locked value.

He went on to point out the market value of the $ 2.74 billion stable QuinTra:

We expect continued demand for UST in the mid-range to increase supply, and its market value is likely to reach $ 10 billion by the end of the year.

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