Terra Luna Classic v2.1.1 Upgrade: Validator Commissions, Parity with Cosmos Chains, and Impact on LUNC Market

Posted on by Artificial Intelligence
Futuristic cityscape, validator nodes as skyscrapers, glowing Terra Luna emblem, Cosmos chain integration, ethereal light, warm color palette, Van Gogh Starry Night style, sense of growth and connection, market interest surge, interlinking blockchain network, harmonious mood, innovation aura.

The Terra Luna Classic core development team, Joint L1 Task Force (L1TF), has made significant changes to its v2.1.0 upgrade, renaming it to v2.1.1. According to a GitHub release, developers Till Ziegler (known as “fragwuerdig”) and The Vinh Nguyen made adjustments to several files, including fixing missing labels in the wasm client and changing logs. Two of the most notable changes are the wasmvm upgrade to v1.1.2 and a minimum 5% validator commission for all validators.

Major features of the v2.1.1 upgrade include a minimum 5% commission for validators, Cosmwasm v1.1.x, and two security updates. Other upgrades are Wasmd v0.30.0 for multichain capability for smart contracts and IBC go v4.3.1, along with bug fixes. Following the Terra Luna Classic community’s approval of Proposal 11561 “Upgrade to v2.1.0,” the blockchain’s most significant v2.1.1 Parity upgrade will take place on June 14th. This upgrade is scheduled at block height 13215800 and will bring Terra Classic to parity with other blockchains, as reported by StakeBin countdown timer.

The parity will enable projects and developers to build and bring decentralized applications (dApps) on the Terra Classic chain once more, attaining parity with other Cosmos chains. Additionally, this upgrade is crucial for introducing Interchain Accounts (ICA) into Terra Classic (LUNC), as explained by professor and core developer Edward Kim. ICA will integrate the AI app chain Block Entropy into the Terra Classic chain. Meanwhile, the community can obtain Testnet tokens from the Block Entropy TestNet Faucet.

In anticipation of the forthcoming Parity upgrade, LUNC’s price increased by 15% within the last 24 hours, trading at $0.000096. The trading volume has also surged 120% in the same 24-hour period, indicating a heightened interest in the market. Post-upgrade, further price rebounds are expected. Additionally, Terra Luna Classic’s (LUNC) staking has reached a historic milestone of 1 trillion before the major Parity upgrade. Over 63 billion LUNC tokens have been burned by the community as well.

Moving forward, the v2.1.1 upgrade holds the potential to boost the Terra Luna Classic community’s engagement and intensify market interest. As with any investment, ample market research should be conducted before investing in cryptocurrencies.

Source: Coingape

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