The main objective behind the release of the v2.1.0 Upgrade proposal by Terra Classic is to enhance its competitive edge in comparison to other blockchains. Interested individuals can find the detailed proposal on the Commonwealth site for further reading.
The Joint L1 Task Force (L1TF) has recently released the proposal for the v2.1.0 upgrade of Terra Classic, initiating a process of discussion and evaluation on Commonwealth. This development holds particular significance as the Terra Classic community took control of the blockchain in May of the previous year following the Terra-LUNA dispute.
The upgrade proposal serves as a strategic move to position Terra Classic as a competitive player among other blockchains, including Terra 2.0 and various Cosmos chains. Consequently, developers and projects can regain the ability to utilize the Terra Classic infrastructure, reinvigorating its appeal and potential for innovation.
The v2.1.0 Upgrade proposal is up for discussion on Commonwealth — please review and comment.
The proposal should go up for vote on approximately June 7th, with the upgrade scheduled to take place on June 14th.https://t.co/FHChp78Qva
— 🔥LuncBurnArmy🔥 (@luncburnarmy) June 3, 2023
Preparations Completed for June 14
The v2.1.0 Upgrade proposal has been made available for public viewing on the Commonwealth site, as announced by LuncBurnArmy, the project manager of the Joint L1 Task Force (LITF), through a Twitter announcement. The announcement also confirmed that the scheduled upgrade is set to take place on June 14, with the proposal up for voting on June 7.
Edward Kim, a professor and core developer of Terra Classic (LUNC), emphasized the significance of achieving parity for the successful implementation of Interchain Accounts (ICA) on the network. ICA serves as the bridge connecting the Block Entropy chain of AI applications to the Terra Classic network, facilitating seamless integration and collaboration.
Also Read This Related: Terra Classic Project Conducts LUNC Token Burn for Edward Kim AI Chain’s “Block Entropy” Testnet
In the meantime, the Block Entropy TestNet Faucet provides an avenue for community members to obtain Testnet tokens. To facilitate the acquisition of Block Entropy testnet tokens, DeFi’s DFLunc protocol is actively burning LUNC coins.
On June 14, at approximately 17:21:02 UTC, the Terra Classic chain is scheduled for an upgrade to version 2.1.0. The block height and upgrade schedule offer flexibility in the process. Prior to the upgrade, it is essential to update all nodes and validators to version 2.1.0.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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