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.
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
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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