Terra Classic Blockchain Upgrade v2.0.1: Impact on LUNC Price and Future Developments

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The developer group Joint L1 Task Force (L1TF) has announced the successful completion of the v2.0.1 upgrade to the Terra Classic blockchain. The Terra Classic developer Joint L1 Task Force, which includes key members such as core developer Edward Kim, programmer Fragwuerdig, and PFC Validator, has been working tirelessly to ensure the success of the upgrade. In response to the upgrade’s completion, the price of LUNC surged by 3%.

L1TF project manager LuncBurnArmy took to Twitter in praise of validators and other contributors to the successful upgrade. The v2.0.1 upgrade introduces several features to the Terra Classic blockchain, including a minimum initial deposit for governance proposals, an upgrade to Cosmos SDK v0.45.13 and Tendermint v0.34.24, as well as mandatory security updates.

Moreover, the next significant upgrade, the Cosmwasm v1.1.0 upgrade (parity), is slated for May 31. This upgrade aims to bring utility to the Terra Classic network by allowing projects and builders across Cosmos and Terra Luna 2.0 to build on the Terra Classic chain once again. L1TF will finalize the block and exact date for the Parity upgrade by May 21.

Simultaneously, Professor Edward Kim is launching a testnet for the AI upgrade Block Entropy. However, the testnet will initially only support a few machine learning inference tasks, such as AI image diffusion, text language models, and music generation. Distributed training, fine-tuning, python APIs, and SNARK verification will be implemented at a later stage. All of this falls under Terra Classic’s Revival Roadmap.

There is also a discussion underway regarding increasing the burn tax-rate to 1.2%. This tax-rate change would contribute to the reinstatement of the USTC peg and LUNC sentiment. Meanwhile, the Terra Classic community has approved four essential proposals to increase LUNC’s burn tax to 0.5%, introduce staking rewards, and boost prices.

Recently, the LUNC burn rate has accelerated, with the

Source: Coingape

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