LUNC News: Terra Luna Classic Completes Key Upgrade to Implement Tax2Gas

LUNC News: The Terra ecosystem tokens rallied today after Terra Luna Classic completed the major update needed for the long-anticipated Tax2Gas feature implementation. Meanwhile, the proposal for an upgrade to v3.1.6 has passed with 100% votes in favor of it. It marks a significant milestone for the community, as it aims to enhance transaction efficacy while strengthening the ecosystem security.

LUNC News: Terra Luna Classic Completes Major Upgrade

In the latest LUNC news, the v3.1.6 upgrade introduces critical improvements, including a security patch for the WebAssembly Virtual Machine (wasmvm), now updated to version 1.5.5. This ensures that the Terra Luna Classic blockchain remains resilient against potential security vulnerabilities.

Besides, the upgrade also includes an enhancement to the gas simulation feature for taxable transactions, further optimizing transaction handling across the network. Previously, the gas simulation improvements had only been accessible to endpoint providers, but this upgrade makes it available for broader network use.

Meanwhile, the upgrade also halts the blockchain at block height 20085000, allowing validators to install the latest terrad client. With 100% of the Terra community voting in favor of this proposal, the consensus behind the upgrade was overwhelming.

Notably, Terra Luna Classic developer StrathCole, who initially submitted the proposal, noted that the patch and simulation improvements were key for the upcoming Tax2Gas feature. The support from both validators and community members underscores the growing momentum behind LUNC’s development.

LUNC Price Rallies Amid Community Optimism

This latest LUNC news has sparked the community’s optimism. Commenting on the successful completion of the upgrade, a prominent figure in the LUNC community, Mr. Diamondhandz1, expressed enthusiasm. In a recent X post, he said:

The LUNC blockchain has successfully upgraded to v3.1.6! This upgrade added a security patch for wasmvm and included a gas simulation patch. Well done to all validators and StrathCole for the excellent upgrade.

Meanwhile, the completion of this upgrade comes at a crucial time for Terra Luna Classic as it seeks to regain investor confidence. The much-anticipated Tax2Gas implementation is expected to play a significant role in LUNC’s future growth by streamlining the gas tax system and improving overall transaction efficiency.

Following the development, LUNC price rallied more than 6% today and exchanged hands at $0.00008679, while its trading volume soared 22% to $20.05 million. The crypto has touched a high of $0.00008804 in the last 24 hours.

On the other hand, USTC price jumped over 7% at the same time and traded at $0.02188, while its trading volume rocketed 106% to $49.81 million. The crypto has touched a high of $0.02368 and a low of $0.01992 in the last 24 hours.