Terra Classic

Restore

Kujira

Terra

<img decoding="async" width="1200" height="675" src="https://coingape.com/wp-content/uploads/2023/12/Terra-network-halt-leaves-LUNA-based-ETPs-unable-to-trade-e1703769781874.jpg" class="attachment-full size-full wp-post-image" alt="LUNC News: Terra Classic Community Unanimously Passed IBC Proposal" style="float:right; margin:0 0 10px 10px;">
LUNC News: Terra Luna Classic community has approved a key proposal to update the IBC client between Terra Classic and Kujira (from 07-tendermint-178 to 07-tendermint-246), allowing the connection between the two chains to work again. This will open up liquidity while free up frozen funds, improving the Terra Classic revival effort. 
<h2 id="terra-classic-proposal-to-restore-ibc-to-kujira-approved">Terra Classic Proposal To Restore IBC to Kujira Approved</h2> 
Proposal 12099 “Restore IBC to Kujira” is approved by the Terra Luna Classic community, with the proposal receiving unanimous support. The RakoffToken team proposed to re-enable IBC client 07-tendermint-178 connection between Terra Classic and Kujira. 
The IBC client 07-tendermint-178 will be upgraded to IBC client 07-tendermint-246 to restore the connection between the chains and free up frozen funds. 
The proposal has received 99.99% of the votes in favor from the community, indicating the unanimous support from the community in restoring the lost connection between chains through inter-blockchain communication (IBC). Validators also showed unwavering support with 36 validators including Allnodes, Interstellar Lounge, HappyCattyCrypto, Luna Station 88. 
Meanwhile, the community actively looks for a complete solution to resolve risks of peer-to-peer storm attacks. Genuine Labs’ proposal to decrease MaxBlockSize from 5mb to 2mb as an initial security measure to counter peer-to-peer spam. 
Read More: <a href="https://coingape.com/terra-luna-classic-block-size-proposal-officially-passed-lunc-price-soars-10-ustc-20/" target="_blank" rel="noopener">Terra Luna Classic Block Size Proposal Officially Passed, LUNC Price Soars 10% USTC 20%</a> 
<h2 id="lunc-and-ustc-prices-performance">LUNC and USTC Prices Performance</h2> 
<a href="https://coingape.com/price/terra-luna-classic/" target="_blank" rel="noopener">LUNC price</a> jumped 1% in the last 24 hours and 6% in a week, with the price currently trading at $0.0001112. The 24-hour high and low are $0.0001063 and $0.0001121, respectively. Moreover, trading volume decreased slightly in the last 24 hours, indicating a rise in interest among traders. The community remains confident on LUNC price hitting $1. 
Meanwhile,&nbsp;<a href="https://coingape.com/price/terraclassicusd" target="_blank" rel="noopener">USTC price</a> is also up 1% after it climbed 20% higher last week, with the price currently trading at $0.0200. The 24-hour low and high are $0.01918 and $0.02036, respectively. 
Also Read: <a title="Ripple v SEC News: Lawyers Reveal Appeal, Settlement, Fine Aspects in XRP Lawsuit" href="https://coingape.com/xrp-news-lawyers-reveal-appeal-settlement-fine-in-ripple-vs-sec/" target="_blank" rel="bookmark noopener">Ripple v SEC News: Lawyers Reveal Appeal, Settlement, Fine Aspects in XRP Lawsuit</a> 
The post <a href="https://coingape.com/lunc-news-terra-classic-community-restores-key-ibc-revives-liquidity/">LUNC News: Terra Classic Community Restores Key IBC, Revives Liquidity</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

LUNC News: Terra Classic Community Restores Key IBC, Revives Liquidity

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