The Terra Luna Classic community has reached a consensus and approved an important proposal to lessen potential risks of peer-to-peer storm attacks on the Terra Luna Classic network. Key figures in development have identified potential hazards for Cosmos, Solana, and Polkadot communities and recommended initial steps to minimize the repercussions of these types of assaults.
Terra Luna Classic Approves MaxBlockSize Proposal
Proposal 12094, put forward by Genuine Labs to reduce the maximum block size from 5MB to 2MB, has gained enough support within the Terra Luna Classic community and been formally approved. This measure is a preemptive security step aimed at minimizing peer-to-peer spam.
With a nearly unanimous approval of 99.87%, the proposition to expand the maximum block size limit has gained strong support among the validators. Specifically, out of the 56 validators who took part in the vote, an impressive 55 – comprised of Allnodes, Interstellar Lounge, Interstake One, Jesus Is Lord, Stalely, and others – voiced their affirmative votes for this proposition.
According to an earlier report by CoinGape, validators suggest this could be the most effective temporary measure until Genuine Labs comes up with a permanent solution. Notional Labs CEO Jacob Gadikian recommended that the community consider decreasing the block size to lie between 850kb and 1mb.
An suggestion has been made to raise gas fees by tenfold, arguing that the present gas prices for transactions are insufficiently high and make it affordable for attacks to occur.
LUNC and USTC Prices Rally
In the past 24 hours, the price of LUNC surged by 10%, reaching a high of $0.0001131 and a low of $0.0001003. The current trading price is $0.0001112. This uptick occurred during a broader market recovery. Additionally, there was a significant 102% increase in trading volume, suggesting heightened investor activity.
At the same time, USTC’s price rose by 20% to a current level of $0.0202. The lowest and highest prices in the last 24 hours were $0.01745 and $0.02207 respectively.
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2024-04-21 10:55