LUNC and USTC witness price surges following a recently announced security upgrade by the Terra Classic ecosystem Joint Layer 1 Task Force (JL1TF) development team.
Notably, the new upgrade hopes to tackle Terra Classic community members’ concerns about security and other potential threats that might corrupt Terra Classic’s integrity.
Read Also: Top Artificial Intelligence (AI) Tool Sets Terra Classic (LUNC) Price for January 31
Full Security Upgrade Details By The JL1TF Lead Developer
Taking to X on January 16, Vinh Nguyen, the JL1TF lead developer, revealed some details about the just concluded core security upgrade.
According to the lead developer, the upgrade was deemed necessary following the Terra Classic community’s clamor for a better user experience. He added that the new upgrade will address challenges ranging from security risks and lack of new features originating from legacy components of Terra Classic.
Describing what completing the security upgrade might look like, Vinh remarked, “Successfully updating these core components will provide up-to-date security and stability, as well as enable the infrastructure needed for TFL support.”
Going further, the lead developer stated that with the developing team’s experience in maintenance and mainnet deployment, the core upgrade will execute perfectly to meet users’ satisfaction.
In addition, Vinh appreciated the efforts of those who contributed to the upgrade. Part of his tweet read thus, “We also want to extend our gratitude to people who have helped us review this package so that it is in line with Pay – per – Job gov – approved proposal.”
Hearing from the #LUNC community needs, the JL1TF has carefully crafted a Core security upgrade package to address the security risks, lack of new features originated from legacy components of Terra Classic.
— 🇻🇳⚛️The Vinh Nguyen⚛️🇻🇳 (@TheVinhNguyen4) January 16, 2024
Successfully updating these core components will provide up – to – date…
The team in charge of the upgrade will consist of Vinh, Inon Man, and Frag (a voluntary contributor). Eleven weeks and a $51,000 total budget will also go in for the success of the upgrade, involving components such as Wasm module (wasmd), Wasm Virtual Machine (wasmvm), Cosmos SDK, Comet BFT, IBC-GO, and Mainnet.
The $51,000 budget will be secured in a multi-sig account held by the oversight committee and members of the upgrade package.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
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LUNC and USTC Prices Record Subtle Surges
Following the announcement about the potential upgrades, LUNC and USTC, the two tokens associated with the Terra Classic ecosystem, recorded positive changes in price actions.
According to LUNC’s data on CoinGecko, the digital asset is priced at approximately $0.00012, reflecting 1.1% and 4% surges in the past 24 hours and week, respectively.
On the other hand, USTC is changing hands at about $0.029, reflecting 3.5% and 15.9% price increases in the last 24 hours and past seven days, respectively.
It is left to see how far the newly initiated upgrade will boost LUNC and USTC prices.
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