The Terra Classic (LUNC) community is buzzing with anticipation over the proposed major upgrade to version 2.4.0, aiming to enhance security, introduce key features, and potentially revitalize LUNC and USTC prices.
Terra Classic Technical Enhancements
The proposed upgrade, led by developer Till “Fragwuerdig” Ziegler, brings forth crucial improvements, including;
– IBC-Hooks and Package-Forward-Middleware (PFM): This collaboration between Genuine Labs and Ziegler aims to streamline the integration of decentralized applications (dApps), potentially expanding the Terra Classic ecosystem and attracting new projects like Enterprise DAO.
– Enhanced Testing Suite: Genuine Labs introduces an End-to-End (E2E) and Interchain Testing Suite to ensure thorough testing before implementation.
– Bug Fix: Ziegler’s proposal addresses a critical bug related to the processing of MsgExec in the Tax Ante Handler, enhancing security.
Read Also: LUNC to $0.001? Terra Classic Price Surges As Binance Burns 2.2 Billion LUNC
Community Vote and Potential Impact
The upgrade’s approval hinges on validators and the wider Terra Classic community. If accepted, the chain will pause at block height 17309500 on March 25th, 2024.
Following the announcement, LUNC and USTC prices surged significantly. While LUNC saw a 30% increase in the last 24 hours and an impressive 82% monthly rally, achieving the ambitious $1 target remains challenging. It requires LUNC to surpass the critical resistance level set in September 2022.
Experts Urge Caution Amidst Excitement
While the upgrade and recent price surges are positive for Terra Classic, analysts caution against attributing the surge solely to the upgrade. Emphasizing a balanced perspective is crucial.
The upgrade primarily focuses on technical advancements and ecosystem utility rather than direct price influence. While it sets the stage for potential growth, linking the surge solely to the upgrade oversimplifies matters.
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Read Also: Three Developments To Send Terra Classic (LUNC) to $0.01 After Bitcoin Halving
Given cryptocurrency market volatility and susceptibility to external factors, investors are advised to tread carefully, conduct thorough research, and avoid hasty decisions based on short-term price movements or hype.
Looking beyond immediate targets is key. Investors should consider Terra Luna Classic’s long-term vision and commitment to sustainable growth when evaluating investment opportunities.
The proposed v2.4.0 upgrade reflects Terra ]Classic’s ongoing efforts to rejuvenate the project. While holding promise for the network’s future, it forms just one part of a broader strategy.
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