Terra Classic Community Restores IBC to Solve Funds
LUNC News: The terra luna Classic community has approved a major proposal to update the IBC client between Terra Classic and Kujira (from 07-tendermint-178 to 07-tendermint-246), allowing the link between the two chains to work again. This will unlock liquidity while releasing frozen funds and enhance Terra Classic’s revival effort.
Terra Classic Proposal to Restore IBC to Kujira Approved
Offer 12099 “Restore IBC to Kujira” was approved by the Terra Luna Classic community, with unanimous support for the proposal. The RakoffToken team has suggested re-enabling the IBC client 07-tendermint-178 connection between Terra Classic and Kujira.
IBC client 07-tendermint-178 will be upgraded to IBC client 07-tendermint-246 to restore connectivity between chains and release frozen funds.
The proposal received 99.99% positive votes from the community; This shows that the community has unanimous support for restoring the lost connection between chains through inter-blockchain communication (IBC). Validators also showed unwavering support with 36 validators including Allnodes, Interstellar Lounge, HappyCattyCrypto, Luna Station 88.
Meanwhile, the community is actively seeking a complete solution to solve the risks of peer-to-peer storm attacks. Original Labs’ recommendation to reduce MaxBlockSize from 5 MB to 2 MB as an initial security measure against peer-to-peer spam.
Read more: Terra Luna Classic Block Size Proposal Officially Accepted, LUNC Price Increased by 10% USTC by 20%
LUNC and USTC Price Performance
LUNC price has increased by 1% in the last 24 hours and 6% in a week and the price is currently trading at the moment. $0.0001112. The 24-hour high and low are $0.0001063 and $0.0001121 respectively. Additionally, the slight decrease in trading volume in the last 24 hours indicates that traders’ interest has increased. The community is confident that the LUNC price will reach $1.
Meanwhile, USTC price also increased by 1% after rising 20% last week and currently the price is currently trading at 2,000. $0.0200. The 24-hour low and high are $0.01918 and $0.02036 respectively.
Also Read: ripple v SEC News: Lawyers Reveal Appeals, Settlements, and Nuances in XRP Case
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