Altcoin News

Terra Luna Classic Announces Major Upgrade, LUNC Price to Rally

Terra Luna Classic developer Genuine Labs announces major upgrade of sdk 47 of the chain. Will LUNC price begins another rally above $0.0002?
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Terra Luna Classic Announces Major Upgrade, LUNC Price to Rally

Highlights

  • Genuine Labs announces readiness for a v3.0.1 major upgrade of the Terra Classic.
  • The upgrade updates the components of the chain, fix dyncomm decorator and handle p2p storm attacks.
  • LUNC price jumps 3% in the last 24 hours.

Terra Lunc Classic Layer 1 developer group Genuine Labs has announced readiness for a major upgrade. The developer group will upgrade the Terra Classic chain to further improve the efficiency and robustness of the system. LUNC price jumps 3% after the announcement.

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Terra Classic Set For Another Core Upgrade

Terra Luna Classic core developer Genuine Labs in a post on X on May 24 revealed that it has prepared for the latest version of SDK 47. The developer will submit an upgrade proposal for governance voting on the Terra Classic station.

The new v3.0.1 will upgrade various components of the chain, as per details provided on GitHub. It will also offer improvements including fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain.

The upgrade is part of the roadmap set by Genuine Labs to provide security improvements and upgrades on the chain. Recently, the rebel-2 testnet update was successfully completed to run on terrad-v3.0.1-rc.1 . This upgrade consists of several key elements SDK v0.47, wasmd v0.45, ibc-go v7, and a p2p storm fix aimed at enhancing the operation and performance of networks.

Also Read: Binance Burns More Terra Classic (LUNC) Tokens, Net Burn Reaches Over 59 Billion

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LUNC and USTC Prices Jump

Terra Luna Classic ecosystem tokens jumped as traders reacted the upgrade  amid the broader recovery in the crypto market.

LUNC price jumped more than 3% in the last 24 hours. The price is currently trading at $0.000111, with a 24-hour low and high of $0.0001094 and $0.0001161, respectively. Furthermore, trading volume has decreased further in the last 24 hours.

Meanwhile, USTC price trades at $0.02256, up more than 3% in the last 24 hours. The 24-hour low and high are $0.02128 and $0.02296, respectively.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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