Terra Classic Devs Make Modifications to Upcoming v2.1.0 Parity Upgrade
Summary: The Joint L1 Task Force (L1TF) has made substantial adjustments since the v2.1.0 update and renamed it v2.1.1. With the passing of Proposal 11561 "Upgrade to v2.1.0" by the community, the Terra Classic blockchain will undergo its massive v2.1.1 parity update on June 14. LUNC price already surges 15%.
The Joint L1 Task Force (L1TF), the group responsible for the core of Terra Luna Classic, has made substantial adjustments since the v2.1.0 update and renamed it v2.1.1.
Released on GitHub, the L1TF code was modified by Till Ziegler (aka “fragwuerdig”) and The Vinh Nguyen, who made 19 changes and removed 9. Altering logs and updating the wasm client to include missing labels are examples of this. As part of the upgrade, wasmvm will be updated to version 1.1.2, and all validators will earn a minimum of 5% validator commission.
All Eyes on June 14
Cosmwasm v1.1.x, a minimum 5% fee for validators, and two security fixes are the major features of the v2.1.1 upgrade. Wasmvm has been updated to version 1.1.2, Wasmd to version 0.30.0 to include multichain support for smart contacts, IBC Go to version 4.3.1, and there have been several bug corrections and enhancements made.
With the passing of Proposal 11561 “Upgrade to v2.1.0” by the Terra Luna Classic (LUNC) community. The Terra Classic blockchain will undergo its massive v2.1.1 parity update on June 14. According to the StakeBin countdown clock, the update will take place at block height 13215800 at about 14:00 UTC.
Terra Classic to Compete with Other Blockchains
Project manager for the Joint L1 Task Force LuncBurnArmy has declared that the group is ready to upgrade to v2.1.1. As a result of the update, Terra Classic will function identically to other blockchains like Terra 2.0 and other Cosmos chains. This means that developers and projects may once again construct and deploy decentralized applications on the Terra Classic blockchain.
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According to professor and core developer Edward Kim, the parity is also necessary for implementing Interchain Accounts (ICA) in Terra Classic (LUNC). ICA will connect the Block Entropy chain of AI applications to the Terra Classic network. Meanwhile, the Block Entropy TestNet Faucet is where members of the community may get their hands on some Testnet tokens.
LUNC Price Surges 15%
In the last 24 hours, the price of LUNC has increased by 15%. From $0.000072 to its current price of $0.000096. The minimum and maximum values for the last 24 hours are $0.000100 and $0.000086. The LUNC pricing is expected to increase, however, with the June 14 Parity update. Buying and selling activity has picked up recently, with a 120% rise in volume over the last 24 hours.