The Terra Luna Classic community has embraced a pivotal software upgrade, moving forward with the v2.4.2 proposal. This unanimous decision paves the way for profound advancements in the blockchain’s infrastructure and potential market impact.
Key Highlights:
- The Terra Luna Classic community has begun voting on the v2.4.2 upgrade, aimed at introducing IBC-Hooks to facilitate dApp onboarding.
- The upgrade received overwhelming support, with a 100% approval rate from validators who have voted so far.
- This upgrade could significantly influence LUNC’s market positioning, with speculations on its futures listing and price movements.
Upgrade Overview
The Terra Luna Classic’s v2.4.2 upgrade, dubbed “Upgrade v7,” is set to introduce crucial developments such as IBC-Hooks, which are instrumental for the onboarding of decentralized applications (dApps), notably the Enterprise DAO. Other key improvements include an End-to-End and Interchain Testing Suite, fixes in the processing of MsgExec in Tax Ante Handler, and more comprehensive testing for MsgExec handling.
The voting for this major software update commenced on the Station wallet, where validators and the community express their approval. The upgrade proposes to halt the Terra Luna Classic chain at block height 17309000, expected around March 25, 2024, at 14:00 UTC, with voting concluding on March 15. This decision follows extensive community discussion and reflects a concerted effort to enhance the blockchain’s functionality and security.
Impact on LUNC’s Market Performance
Despite a dip in futures open interest across major exchanges, LUNC’s price remains buoyant. The introduction of 1000LUNC Open Interest (OI) on Binance has provided a steady support for its market value. The anticipation surrounding the upgrade and its potential to foster a bull market could propel LUNC towards the speculated target price of $0.0005.
Terra Luna Classic v2.4.2 Upgrade: A Unanimous Decision
The v2.4.2 upgrade proposal, aiming to introduce IBC-Hooks among other enhancements, received overwhelming support from the community, marking a critical step towards the onboarding of decentralized applications (dApps) and improving the blockchain’s infrastructure. The upgrade was designed to primarily introduce IBC-Hooks to enable the onboarding of dApps, most notably Enterprise DAO, alongside other critical developments such as End-to-End and Interchain Testing Suite, and fixes in the processing of MsgExec in Tax Ante Handler. The proposal, which saw a 100% approval rate from validators, reflects the community’s commitment to advancing Terra Luna Classic’s technological foundation and broadening its utility and performance.
The current trading activity shows LUNC at a price of $0.000196, navigating through a 24-hour trading volume that saw a 25% decline. Despite this, the upgrade’s prospects and the broader crypto market dynamics offer a promising outlook for Terra Luna Classic’s future.
The Terra Luna Classic community’s unanimous decision to advance with the v2.4.2 upgrade marks a significant milestone in the blockchain’s journey towards innovation and market relevance. By enabling the onboarding of dApps through IBC-Hooks and implementing critical fixes and enhancements, this upgrade not only strengthens Terra Luna Classic’s infrastructure but also sets the stage for future growth and market performance. As the community awaits the full impact of these developments, the optimism surrounding LUNC’s futures listing and potential price appreciation reflects a broader confidence in the blockchain’s evolving narrative.
