Terra’s Upgraded Security Measures Ignite a 15% Total Market Cap Gain

The post Terra’s Upgraded Security Measures Ignite a 15% Total Market Cap Gain appeared first on Coinpedia Fintech News

Terra Luna Classic core developer L1TF completed a core security upgrade to improve safety and stability. The v2.3.2 upgrade is to resolve the sequence mismatch issue which was affecting some validators after introducing dyncomm module.

Terra Luna Classic v2.3.2

On December 8, the Terra Classic upgrade was executed. The core developer L1FT revised the proposal to an upgrade to allow validators and node operators to execute changes as the chain halts automatically. The proposal required community approval for the on-chain deployment of terrad client v2.3.1.

Recently, the Terra Luna Classic community passed a proposal to resolve the sequence mismatch issue which was causing damage to validators. The issue of “sequence mismatch” led to some of the accounts being blocked from further interaction with the chain. The community accepted the sequence mismatch issue resolution proposal but validators and core developer L1TF chose to change it to an upgrade proposal.

LUNC Price Surge Amid  v2.3.2 Upgrade

After the Terra Lunc core security upgrade which was approved by community decision, the price of LUNC experienced a significant surge, jumped by 25%. LUNC Price Jumps 5% & USTC 12%. 

Terra Lunc had encountered a remarkable rally surging over 115% in a month and 88% in the last week. The major reason behind this surge is contributed to TerraClassicUSD (USTC), which has seen a substantial 400% boost in a month. This price surge is further charged by Mint Cash news and Binance’s introduction of the USTC perpetual contract, along with the launch of new USTC trading pairs.

The Joint L1 Task Force (L1TF) developer Vinh Nguyen posted on X,  promising uninterrupted services to the community.

“We believe that our ample experience in maintaining, and mainnet deploying these core components will provide most excellent service to the community. We also want to extend our gratitude to people who have helped us reviewing this package so that it is in line with Pay – per – Job gov – approved proposal,”

The budget for this upgrade is $51,000 and it will take 11 days for the completion of the upgrade as informed by their team.