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HomeNewsTerra Classic's Upgrade and AI Capability: Is $1 LUNC Price Possible?

Terra Classic’s Upgrade and AI Capability: Is $1 LUNC Price Possible?

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  • Terra Classic (LUNC) successfully upgraded the rebel-2 testnet to v2.0.0 with Cosmos SDK v0.45.
  • Core developers plan the Cosmwasm v1.1.0 upgrade (parity) on May 31 to allow projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain.

Terra Classic Upgrades Testnet with Cosmos SDK v0.45 to Prepare for Cosmwasm v1.1.0 Upgrade

Terra Classic (LUNC) developer group Joint L1 Task Force has successfully upgraded the rebel-2 testnet to v2.0.0 with Cosmos SDK v0.45. This is a major accomplishment for the Terra Classic community as core developers plan the Cosmwasm v1.1.0 upgrade (parity) on May 31 to allow projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain. Surprisingly, core developer Edward Kim also participated in the upgrade.

Edward Kim shared images of the whitepaper for the AI chain called Block Entropy. TestNet will only support a small set of ML inference tasks at this time (AI image diffusion, text language models, and music generation). Distributed training, fine-tuning, python APIs, and SNARK verification comes later.

The Joint L1 Task Force can now set to run the Cosmos SDK v0.45.11 Columbus-5 mainnet upgrade on May 17. The developer group will publish an Agora proposal shortly for the v2.0.0 mainnet upgrade. The Cosmos SDK upgrade on the Rebel-2 testnet was earlier planned on May 5, but the developer group stated that they will be able to conduct the Cosmos SDK and Tendermint upgrades on the Rebel-2 testnet slightly sooner.

The Tendermint upgrade on the Rebel-2 testnet is scheduled on May 9. Validators including StakeBin, Allnodes, Lunanauts, StellarDrift, and SolidVote also participated in the rebel-2 testnet to v2.0.0 with Cosmos SDK v0.45.

The Cosmwasm 1.1.0 Parity upgrade is targeted on May 31. It will bring back utility to the Terra Classic network by allowing projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra Classic chain.

LUNC price is up 2% in the last 24 hours, with the price currently trading at $0.000104. The 24-hour low and high are $0.000102 and $0.000106, respectively. The latest upside momentum came as the LUNC community votes on a proposal to repeg USTC stablecoin to $1. However, major validators have opposed the proposal due to terms for the repeg. The community needs to work continuously for many months in order to revive LUNC and USTC to $1. The developments are still in the early phase as per the Terra Classic Revival Roadmap.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628
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