As a researcher with extensive experience in the cryptocurrency space, I cannot help but be concerned about the recent rejection of Proposal 12101 in the Terra Luna Classic governance vote. The potential risks posed by validators operating multiple nodes on the network are well-documented and could undermine the decentralization and security of the ecosystem.
As a crypto investor following LUNC news, I’ve learned that the Terra Luna Classic community has recently considered a proposal aimed at preventing validators from managing multiple nodes on the chain. However, this proposal failed to gain widespread approval. Although some validators cast their votes in favor of the suggestion, Allnodes – a prominent validator – voted against it. According to Allnodes, they believed that enforcing rules without permission on a decentralized, permissionless blockchain like LUNC goes against its very nature.
Terra Luna Classic Proposal Rejected
Proposal 12101, titled “Rules to Prevent Double Dipping and Network Validation,” did not receive sufficient approval in the recent governance vote. The objective of this proposal was to address the issue of validators managing multiple nodes on the chain, a situation that could potentially undermine the network’s decentralization and security.
As a crypto investor, I’d interpret this as follows: The proposal gained approval from approximately 38% of the voting community, while around 37% voted against it. Additionally, there were 21% “No with veto” votes and 4% abstentions. Unfortunately, this proposition did not secure sufficient backing from validators and delegators, including Interstellar Lounge, HappyCattyCrypto, TerrCVita, LBUN Project, and StakeBin, who all cast their votes in favor of the proposal.
According to a previous report by CoinGape, this new measure aims to alleviate concerns regarding potential risks to the network’s security and decentralization. At present, validators running multiple nodes need to transition back to single-node operations. Non-custodial providers must strictly implement these restrictions. The objective is to minimize the occurrence of Sybil attacks, where a single entity manages multiple nodes, potentially undermining the network’s authenticity.
LUNC Price Soars 5%
In the past day, the value of LUNC surged by 5% due to widespread market purchases. At present, it is being exchanged at the price of $0.0001096. Over the previous 24 hours, its maximum and minimum prices were recorded as $0.0001047 and $0.0001097 respectively. Additionally, there has been a slight uptick in trading activity over this time frame.
I’ve analyzed the price trend of USTC over the past 24 hours and noticed a 1% increase. Currently, the token is priced at $0.01981 on the market. The lowest price point in this period was $0.01941, while the highest was reached at $0.01992.
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2024-05-04 23:15