Terra Luna Classic ecosystem has unveiled a comprehensive security upgrade and seen a notable increase in trading activities.
The strategic enhancement is designed to fortify the chain against security vulnerabilities and bolster its resilience. The Terra Luna Classic community has welcomed this initiative, which is evident in the positive market response.
Data from CoinMarketCap indicates a notable uptick in the trading activity of LUNC, Terra Classic’s native token. LUNC’s 24-hour trading volumes surged by approximately 6%. Concurrently, the market capitalization of Terra Classic experienced a substantial boost, escalating by over $60 million in the preceding week. The token’s value has also seen a 10% increase within the same period.
The original update was executed on Dec. 8th on the Terra Classic network. However, a prominent core developer, L1TF, amended the original proposal, transitioning it to a comprehensive upgrade.
This revision enables validators and node operators to seamlessly implement changes, particularly when the chain undergoes automatic halts. The adoption of v2.3.1 required the community’s consensus for its on-chain deployment.
A recent challenge faced by the Terra Luna Classic network involved a “sequence mismatch” issue, which had detrimental impacts on validators, restricting certain accounts from interacting with the chain. The community initially proposed a solution to this problem, but upon further deliberation, validators and L1TF decided to elevate the response to an upgrade proposal, aiming for a more holistic improvement to the network’s functionality.