Terra blockchain achieved a major milestone with its strategic upgrade to version 2.4 at block height 5994365. The upgrade introduced various updates aimed at enhancing the adoption of its native token, LUNA.
The Terra Twitter page announced the significant upgrade to version 2.4, aimed at promoting wider LUNA token acceptance.
Terra Core has successfully upgraded to v2.4 and is once again producing blocks. Shoutout to Terra validators for a speedy upgrade!
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) July 18, 2023
Implementing the upgrade necessitated a temporary pause in Terra mainnet’s operations, Phoenix-1, leading to a brief halt in block production. However, the network quickly resumed operations and successfully executed the v.2.4 upgrade.
On July 17, the Terra community overwhelmingly approved the consensus-breaking upgrade, with an impressive 98.22% YES votes and only 1.78% NO votes. Setten validator and Smart Stake Analytics Hub contributed the majority of YES votes, while Kucoin LUNA Node and 70 other validators abstained from the vote.
The v2.4 upgrade brought four significant updates to the Terra chain, resolving issues such as inconsistent smart contract triggering, undelegation problems for certain users, and a critical message validation issue.
In parallel, developers introduced the “Gate Contract” proposal, seeking to enable Inter Blockchain Communication (IBC) messages between the Terra (LUNA) network and other smart contracts on different chains. It is worth mentioning that the Terra Classic (LUNC) blockchain cannot merge with the Terra (LUNA) chain at a protocol level, as confirmed by a TFL staff member.
Strong Backing
The Terra community’s strong support and effective pre-upgrade communication played a crucial role in the successful implementation of the v2.4 upgrade. This milestone marks a significant advancement for the Terra blockchain, enhancing its reliability, user experience, and expanding its interoperability and influence within the blockchain ecosystem.
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.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News and Threads App
