Terra Luna Classic aims to enhance its capabilities by supporting the Ethereum Virtual Machine (EVM). This move is designed to integrate the programmability and composability of EVM while maintaining the sovereignty and interoperability associated with Cosmos.
The Terra Luna Classic community is taking a unique approach by incorporating Ethereum Virtual Machine (EVM) support into the chain. This strategic move goes beyond traditional chain developments, aiming to align the community-led Terra Classic chain with the latest technologies. The introduction of EVM support brings several advantages to the chain. One notable benefit is the ability to leverage the Solidity programming language, widely utilized on EVM chains. This integration opens up new possibilities for developers and users within the Terra Luna Classic ecosystem.
Terra Luna Classic Advances EVM Integration Through Proposal 11978
The Terra Luna Classic community is actively voting on Proposal 11978, titled “Investigate EVM Functionality,” within the Station wallet. Impressively, the proposal has already surpassed the pass threshold, garnering over 62% of votes in favor, with support from 29 validators. The deadline for voting is set for January 17.
This proposal aims to explore the integration of the Ethereum Virtual Machine (EVM) into Terra Luna Classic, a move designed to broaden its use cases. By combining the programmability and composability of the EVM with the sovereignty and interoperability of the Cosmos, Terra Luna Classic seeks to enhance its capabilities.
The introduction of EVM support is expected to align Terra Luna Classic with emerging technologies, including Optimistic transactions and Rollups. These advancements can optimize transaction processing, improve scalability, and elevate the overall performance of Terra Luna Classic.
ClanMudhorn of Terrarium validator emphasized the potential benefits, stating that Terra Classic could leverage Optimistic transactions without disclosing direct security information on each transaction. Additionally, the integration of Rollups enables the processing of a significantly higher number of transactions simultaneously.
The strategic move towards EVM support positions Terra Luna Classic as an attractive platform for interoperability, fostering compatibility with well-established blockchain development standards. This development could potentially attract projects such as Curve DAO, Uniswap, ChainLink, Hedera, and others.
Moreover, the proposal outlines a careful and governance-driven decision-making process, recognizing the importance of cautious considerations in implementing such a significant upgrade. The outcome of this proposal could pave the way for Terra Luna Classic’s evolution into a more versatile and widely adopted blockchain platform.
LUNC and USTC Prices Witness Varied Trends in the Last 24 Hours
The last 24 hours have seen divergent trends in the prices of Luna Classic (LUNC) and Terra UST Coin (USTC). LUNC recorded a slight decline, slipping over 1% and currently trading at $0.000121. The 24-hour high and low for LUNC stand at $0.000118 and $0.000126, respectively. Notably, there has been a 40% decrease in trading volume during this period, indicating a waning interest among traders.
On the flip side, USTC has experienced positive momentum, witnessing a notable 10% increase in value over the past week. Presently trading at $0.027, USTC’s 24-hour high and low are $0.0266 and $0.0286, respectively. This upward movement suggests a growing interest in USTC, reflected in the recent price surge.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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