- Joint L1 Task Force (L1TF), Terra Luna Classic’s core developer, revises its v2.1.0 upgrade to v2.1.1, triggering a 15% surge in LUNC price.
- The major v2.1.1 parity upgrade, scheduled for June 14, includes features like minimum 5% commission for validators, a Cosmwasm upgrade, and security updates, bringing Terra Classic to parity with other blockchains.
The Terra Luna Classic blockchain is on the brink of a significant evolution, courtesy of its core developer Joint L1 Task Force (L1TF). With a raft of improvements made to the v2.1.0 upgrade and rebranded as v2.1.1, the LUNC price surged 15% in anticipation of these transformations. Till Ziegler (aka “fragwuerdig”) and The Vinh Nguyen from the L1TF development team made significant modifications, including 19 additions and 9 deletions in some files, with the objectives to enhance the overall security and operation of the Terra Luna Classic blockchain.
These alterations include but are not limited to, fixing missing labels in the wasm client, altering logs, and implementing a minimum 5% validator commission for all validators. Moreover, the upgrade also features a wasmvm update to v1.1.2, thus further increasing the blockchain’s multichain capabilities.
The approval of Proposal 11561 and subsequent upgrade to v2.1.1 has ushered in the most significant parity upgrade in the history of the Terra Luna Classic blockchain. The update, scheduled to occur at block height 13215800 around 14:00 UTC according to StakeBin’s countdown timer, will bring Terra Classic on par with other blockchains, such as Terra 2.0 and other Cosmos chains. Consequently, this will enable projects and developers to resume building and deploying dApps on the Terra Classic chain.
Additionally, this parity upgrade plays a crucial role in integrating Interchain Accounts (ICA) into Terra Classic, as indicated by core developer Edward Kim. The ICA’s introduction will facilitate the AI app chain, Block Entropy’s transition onto the Terra Classic chain.
In light of these impending updates, LUNC’s price witnessed a 15% leap in the last 24 hours, further augmented by a 120% increase in trading volume, signaling heightened interest. Concurrently, Terra Luna Classic staking marked a historic milestone, reaching 1 trillion, and the community has burned more than 63 billion LUNC tokens to date. Such robust indicators confirm that the blockchain community is eagerly awaiting the v2.1.1 upgrade, positioning Terra Luna Classic on an exciting path forward.