The Terra Luna Classic (LUNC) network is in a state of flux, with some members of the community calling for the creation of a CEO position to lead the network out of its current crisis.
Proponents of this idea argue that Terra Classic (LUNC) is too decentralized to survive on its own. They point to the fact that the network has no clear leadership structure, which has made it difficult to make decisions and implement changes. They also argue that the lack of a CEO has made it difficult to attract new users and developers to the network.
Read Also: Exploring Four Factors With Potential To Drive Terra Classic (LUNC) to $0.1 and Beyond
Opponents of this idea argue that creating a CEO position would go against the original ethos of LUNC, which is to be a decentralized network. They also argue that a CEO would have too much power and could potentially abuse that power.
Recall that the Terra Classic community once pondered on choosing Changpeng Zhao (CZ), the CEO of Binance Exchange, to take charge of the affairs of the crypto project.
In a recent video, prominent crypto proponent Classy weighed in on the idea of making CZ the leader. debate, He argued that fully decentralized blockchains do not succeed. He mentioned that successful networks such as Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) all have their fair share of centralization. According to him, the presence of a governing body makes the protocols succeed until the present day.
Classy Crypto also noted that while the crypto space may attain a better decentralized system in the future, the current lack of a central authority in LUNC is crumbling the ecosystem’s growth.
Read Also: LUNC and USTC to $1? Terra Classic Community Officially Passes Proposal to Burn 800M USTC
In light of the debate, the Terra Classic layer one task force has proposed that they take charge of the ecosystem. The task force is composed of experienced developers and community members who are committed to reviving the LUNC network.
The task force has outlined a plan to rebuild the LUNC network from the ground up. They plan to focus on improving the network’s scalability, security, and usability. They also plan to attract new users and developers to the network.
It remains to be seen whether the Terra Classic layer one task force will be successful in reviving the network.
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