LUNA is a digital currency created in 2017 by the LUNA Foundation, based in Singapore. It is built on an open-source blockchain platform and uses proof-of-stake (PoS) consensus algorithm.
LUNA was designed to be used as a medium of exchange for goods and services between individuals and businesses worldwide, but it can also be used for other purposes such as data storage or smart contracts.
The LUNA network operates using its own native token, LUNA Coin (LNC). The total supply of LNC is limited to 21 million tokens, with each coin being divisible up to 8 decimal places. Tokens are distributed through mining rewards or purchased from exchanges. Mining rewards are given out at a rate of one block per minute until all 21 million coins have been mined.
To promote the adoption of LUNA globally, the Foundation has developed partnerships with various online merchants who accept payments in LUNA Coins as well as physical stores located around the world that accept them too. Additionally, there are wallets available that support both desktop and mobile platforms where users can store their coins securely offline or connect directly to exchanges for trading purposes when needed.
Transactions made via the network incur small fees which go towards rewarding miners who maintain its security through validating transactions on its distributed ledger system; this process helps ensure secure transfer of funds across borders without any third parties involved in managing user accounts or controlling financial information associated with them..
