On the dawn of the Terra Genesis Block, the Arrington XRP Capital team is in the final stages of preparing a Genesis Validator for MainNet launch.
After many months of technical and business development, the countdown finally comes to a close.
Terra will launch tonight–April 23rd–at 23:00 PST.
From the moment Michael met the team last year, he knew there was something special about this project, likening Terra to his early investments in Uber and Pinterest. And for myself, as a new partner to the fund, there is no better way to be part of the network than to work closely with the Terra team and launch a Genesis Validator.
Terra represents the first real deployment of a non-collateralised, algorithmic stablecoin at scale. It is not a stablecoin science experiment. Rather, Terra is the first project of its kind to come to market with an existing and sizeable network of e-commerce merchants. More importantly, it is the first consumer-focused stablecoin, targeting non-crypto online shoppers who care more about discounts than they do about blockchains.
Alongside Cosmos & Binance Chain, Terra is one of the few public chains built on Tendermint Core. Tendermint Core is a Byzantine Fault Tolerant (BFT) mechanism designed to achieve agreement if no more than 33% of the network is malicious or faulty.
Deploying Tendermint Core publically needs another mechanism: sybil deterrence. This is where Terra’s Delegated Proof of Stake (dPoS) mechanism comes into play. By allowing LUNA holders to delegate to MainNet validators, Terra empowers token owners with real skin-in-the-game, as they ultimately decide who will secure the network.
There are plenty of challenges in deploying validators in adversarial environments, especially on high value networks like Terra (all we need to do is look to the history of chains victim to 51% attacks). Without proper node design, key management & security auditing, validators are sitting ducks, honey-pots, prey to malicious hackers & DDoS attacks.
After many months of defining availability demands & security requirements with the Terra team, we are very excited to launch our Genesis Validator.
It is not everyday that you have the opportunity to be a foundational part of what is potentially a multi-billion dollar e-commerce economy.
Contact us on email@example.com if you are interested in delegating your LUNA tokens with us.