Luna Classic News – Terra Luna Classic Aims for $1: Community Supports Key Proposal
Luna Classic News – The Terra Luna Classic community has made a pivotal decision by approving a proposal aimed at eliminating forked mainline modules from its blockchain. This strategic move is designed to enhance the maintainability of LUNC, reduce technical debt, and foster a closer alignment with the Cosmos ecosystem. As the burn date for TFL assets approaches, speculation regarding LUNC potentially reaching the $1 mark has intensified.
Proposal 12142: A Resounding Success
The proposal, known as 12142, received overwhelming support, with 99.97% of the votes in favor. This reflects robust community backing from validators and delegators, including notable entities like Allnodes and Stakely. The strong approval underscores the community’s commitment to improving the network’s overall health and security.
Developers at OrbitLabs emphasized that maintaining existing forked versions not only inflates operational costs but also heightens the risk of security vulnerabilities due to missed updates. The proposal delineates a two-phase implementation plan aimed at mitigating these issues.
Implementation Plan: Two Phases for Enhanced Security
The first phase focuses on updating the consensus engine and integrating the latest features from the Cosmos SDK to bolster security. This upgrade is critical as it lays the groundwork for a more resilient network. The second phase aims to upgrade the Wasmd contract system, ensuring compatibility with existing smart contracts and minimizing potential disruptions.
If the proposal is finalized, the first phase is expected to take approximately eight weeks, followed by an additional ten weeks for the second phase. This timeline marks a significant advancement for the Terra Luna Classic network, paving the way for improved functionality and security.
Future Outlook: Speculation and Community Sentiment
As the community looks forward to these crucial updates, the anticipation surrounding LUNC’s price trajectory continues to grow. The successful implementation of the proposal could not only enhance the network’s reliability but also potentially propel LUNC towards its aspirational price targets.
In conclusion, the Terra Luna Classic community’s decisive action reflects a strong desire to evolve and adapt in a rapidly changing blockchain landscape, reinforcing its commitment to sustainability and security.
FAQ: Terra Luna Classic Proposal 12142
What is Proposal 12142 for Terra Luna Classic?
Proposal 12142 is a significant initiative approved by the Terra Luna Classic community aimed at eliminating forked mainline modules from the blockchain. The main objectives of this proposal are to improve the maintainability of the LUNC network, reduce technical debt, and align more closely with the broader Cosmos ecosystem. By streamlining the blockchain infrastructure, the proposal seeks to enhance overall efficiency and security, ultimately positioning LUNC for better performance and user trust.
How does this proposal affect the price of LUNC?
The approval of Proposal 12142 has sparked renewed speculation about the potential for LUNC to reach the $1 mark. As the Terra Luna Classic community prepares for the upcoming burn of TFL assets, the excitement surrounding these changes may drive increased interest and investment in LUNC. Historically, significant upgrades and community initiatives can create positive momentum in the market, leading to price increases.
What are the two phases of the implementation plan?
The implementation plan outlined in Proposal 12142 consists of two distinct phases, each designed to tackle specific aspects of the network’s improvement. Phase One: This phase concentrates on updating the consensus engine and integrating the latest features from the Cosmos SDK. This upgrade is crucial as it strengthens the security of the LUNC network, helping to prevent potential vulnerabilities that could be exploited by malicious actors. Additionally, it ensures that the network remains compatible with advancements in the Cosmos ecosystem, which is vital for maintaining a competitive edge in the rapidly evolving blockchain space. The first phase is expected to take around eight weeks to complete.
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