FLO is a scrypt based coin with quick transaction processing that introduces a useful new feature called 'transaction comments'. These transaction comments enable FLO to facilitate a number of unique applications and enhancements within the blockchain.
Tera is a decentralized application platform. This is akin to an operating system. Tera consists of a repository of programs and data storage integrated into the Internet. The mechanism for publishing programs and data on this platform is free from censorship. The circulatory system is the blockchain.