Terra Luna Classic Update: The Terra Luna Classic community has endorsed a significant proposal to revise the IBC client linking Terra Classic and Kujira (from version 07-tendermint-178 to 07-tendermint-246). This modification is expected to restore connectivity between the two blockchains. Consequently, it will unlock liquidity and release frozen funds, contributing positively to the ongoing revival process of Terra Classic.
Terra Classic Proposal To Restore IBC to Kujira Approved
The Terra Luna Classic community has endorsed Proposal 12099, titled “Reactivate IBC for Kujira,” with universal approval. This initiative, put forth by the RakoffToken team, seeks to reactivate the IBC connection (07-tendermint-178) between Terra Classic and Kujira.
To restore the connection between the chains and release frozen funds, we’ll update the IBC client of the IBC client 07-tendermint from version 178 to version 246 for the IBC client 07-tendermint.
The proposal has gained almost universal approval from the community, with a staggering 99.99% of votes in its favor. This strong endorsement underscores the widespread support for reestablishing communication between different blockchain networks via Inter-Blockchain Communication (IBC). Notably, validators such as Allnodes, Interstellar Lounge, HappyCattyCrypto, and Luna Station 88 have all shown steadfast commitment to this cause.
In the meantime, the community is working diligently to find a comprehensive answer to mitigate risks of peer-to-peer storm attacks. As a preliminary step, Genuine Labs suggests reducing MaxBlockSize from 5MB to 2MB to help thwart peer-to-peer spam.
LUNC and USTC Prices Performance
In the past 24 hours, the value of LUNC increased by 1%, and it surged by 6% over the last week. At present, the price is at $0.0001112. The highest and lowest points in the previous day’s trading were recorded as $0.0001063 and $0.0001121, respectively. Additionally, there was a slight drop in trading volume recently, which may suggest growing enthusiasm among investors. Despite this, the LUNC community maintains their optimism that the price will eventually reach $1.
At the same time, USTC’s price has risen by 1% following its 20% increase last week. The current price is at $0.0200, with the lowest and highest points in the last 24 hours being $0.01918 and $0.02036 respectively.
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2024-04-22 18:54