Tuesday, June 18, 2024
HomeCryptocurrencyLead Terra Classic Developer Edward Kim Abandoning the LUNC Project? Details

Lead Terra Classic Developer Edward Kim Abandoning the LUNC Project? Details

Edward Kim’s function in the Terra Classic revitalization agenda is one that the LUNC community would not want to miss.

The Drexel University professor who doubles as the Terra Grants Foundation project lead and a part-time developer in the Terra Classic Layer-1 Task Force has contributed tremendously to the many positive developments recorded in the LUNC ecosystem.  

Notably, Kim submitted several proposals which led to the March resumption of LUNC burns by Binance, the largest crypto exchange by trading volume. Also, he took an active part in five Terra Classic network upgrades including V.1.0.5 and V.1.1.0

Edward Kim reveals new project

However, there are concerns over Kim’s commitment to the LUNC project following a Monday Medium article where he highlighted many deficiencies of Terra Classic. 

Defining LUNC as a meme coin that has only a few use cases and utility with no solid user and developer base, the lead Terra Classic developer revealed an Artificial Intelligence-focused project he has been developing. 

Notably, this Cosmos proof-of-stake founded application is currently in the testnet stage per the update. 

Kim wrote:

“I am excited to share a research project I have been working on, a Cosmos Proof-of-Stake machine learning application-specific chain that decentralizes the power of AI. I have developed a custom machine learning Cosmos module that interacts directly with the Layer-1 infrastructure to tap into the compute power beyond the consensus layer.”

The blockchain developer noted that he would be focusing on this project for the next 3-6 months to achieve its public beta launch. 

“In the short term (next 3–6 months), I am planning on building and releasing a public beta. Long term, the goal is to have a blockchain that can be used to perform large scale distributed learning across many nodes.”

Is the Lead Developer Leaving the Terra Classic Team?

Although Kim has reportedly resigned from the TGF project lead role, there is no official statement regarding abandoning Terra Classic (LUNC).

While some interpret this new project introduced by Kim as the developer dumping Terra Classic, he noted that the application is an app-chain utility for LUNC connected via Inter-Blockchain Communication. 

For more clarity, he wrote, “My personal goal and contribution to this community has shifted to drive a recovery narrative that iterates on the identity and strength of Cosmos, Terra Classic, and my own personal experience.”

Interestingly, Kim disclosed that he is in talks with other experts to design the AI-based app chain such that it can be instrumental to the development of LUNC as well as increase the utilization of the token. 

“The tokenomics of the side chain will be especially important to consider for LUNC. How can we utilize the app chain to help fund LUNC development, help reduce the supply of LUNC and UST, increase utilization of LUNC, and incentivize miners to contribute their compute. I am in talks with seasoned experts to get this part right from the start.”

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The LUNC Joint L1 Task Force project manager further attested to the fact that Edward Kim is not leaving Terra Classic as speculated by many including a pseudonymous community member Rabbi Jebediah Shekelstein. “If anyone had faith in LUNC they’d be all-in. They wouldn’t be looking for excuses to bail, nor spinning up parallel projects,” Shekelstein wrote on Discord. 


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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