As a researcher with experience in the Terra Luna Classic ecosystem, I’m closely monitoring the latest developments and am excited to see Genuine Labs submitting a major upgrade proposal for version 3.0.1. This upgrade, which includes SDK v0.47, wasmd v0.45, ibc-go v7, and a p2p storm fix, is aimed at improving the efficiency and robustness of the Terra Luna Classic system. The proposal has already received 100% votes in favor from the community and 100% from validators, indicating strong support for these updates.
The development team at Genuine Labs, responsible for Terra Luna Classic’s Layer 1, has put forward a proposal for an update named v3.0.1. This proposal includes software development kit (SDK) version 47 and other significant enhancements to the network. Following their declaration of readiness, the team aims to optimize the system’s efficiency and resilience with this major upgrade.
Terra Luna Classic Developer Submit Major Upgrade For Voting
As a crypto investor, I’ve come across a software upgrade proposal from Genuine Labs called “Proposal for v3.0.1 Upgrade by Genuine Labs” in my Station wallet. This proposal is currently under governance voting and requires the community’s and validators’ approval for implementing this upgrade. According to the information available on the Terra Luna Classic community’s GitHub, Genuine Labs had previously prepared this update.
With the green light given to this plan, the suggested binary will be implemented on the Terra Classic blockchain via a software update that halts the chain. This halt will occur at block height 18,303,000, necessitating validators to install the new version in place of the previous one. The anticipated upgrade date is June 2, 2024, at 16:00 UTC.
According to CoinGape’s report, this upgrade encompasses several significant components such as SDK version 0.47, wasmd version 0.45, ibc-go version 7, and a peer-to-peer storm resolution to boost network functionality and efficiency.
As an analyst, I can report that the proposal has gained unanimous approval from the community up to this point, with a full 100% of votes cast being in favor. Among the validators who have engaged in the governance process so far, all four have endorsed the proposal.
LUNC and USTC Price Performance
In the past 24 hours, LUNC’s price has remained relatively stable, hovering around $0.0001134. The price reached a low of $0.0001127 and a high of $0.0001155 during this period. Notably, the trading volume has dropped by approximately 30% compared to the previous 24 hours.
Currently, USTC’s value hovers around $0.02252 with minimal fluctuation. Over the past 24 hours, its lowest and highest points were recorded at $0.02244 and $0.02319 respectively. A notable increase of 16% has been observed for this cryptocurrency throughout the current month.
Trading activity is relatively light on both the spot markets and the derivative exchanges. It’s possible that traders are holding back, waiting for signals from the larger cryptocurrency market before making their next moves.
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2024-05-26 00:54