Terra Luna Classic’s Security Upgrade: LUNC Price Jumps 10% Post Block Size Vote
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Terra Luna Classic’s Security Upgrade: LUNC Price Jumps 10% Post Block Size Vote

  • The Terra Luna Classic community has successfully approved a proposal to decrease the block size from 5mb to 2mb, aimed at mitigating peer-to-peer storm attacks and enhancing network security.
  • This decision has led to a 10% surge in the price of LUNC and a 20% increase in USTC, reflecting market confidence in Terra Luna Classic’s proactive measures.

In a significant move for the Terra Luna Classic (LUNC) community, a crucial proposal to decrease block size has been officially approved, resulting in a notable surge in LUNC and USTC prices. The initiative aims to address potential risks of peer-to-peer storm attacks, enhancing the security and stability of the Terra Classic chain and its ecosystem.

Unanimous Approval of MaxBlockSize Reduction

The Terra Luna Classic community has overwhelmingly passed Proposal 12094, which seeks to decrease the MaxBlockSize from 5mb to 2mb. This decision comes as a proactive security measure against peer-to-peer spam attacks that could compromise the integrity of the network. Notable developers and validators within the ecosystem have highlighted the necessity of this step to safeguard against vulnerabilities observed in related platforms like Cosmos, Solana, and Polkadot.

The approval of this proposal underscores the community’s dedication to proactive risk management and the ongoing evolution of Terra Luna Classic’s technological infrastructure. With an approval rating of 99.87%, the vote represents a unified front in fortifying the network against potential threats.

Impact and Developer Insights

Developers like Genuine Labs have been instrumental in driving this proposal forward, emphasizing the immediate necessity to reduce block size limits to mitigate the risk of attacks. The developer community has emphasized the need for ongoing vigilance and adaptation to ensure the long-term viability of Terra Luna Classic amidst evolving threats.

Jacob Gadikian, CEO of Notional Labs, has echoed sentiments for further reductions in block size, suggesting a target range between 850kb and 1mb. Such insights highlight the collaborative and forward-thinking approach of Terra Luna Classic’s ecosystem in responding to emerging challenges.

LUNC and USTC Prices Surge

Following the announcement of the block size reduction proposal’s approval, the market has responded positively. LUNC prices have surged by 10% over the past 24 hours, with heightened trading volume indicating increased investor interest and confidence in the project. The current trading price stands at $0.0001112, reflecting a bullish sentiment among traders.

Simultaneously, USTC prices have experienced an impressive 20% increase, currently trading at $0.0202. This upward movement underscores the broader market optimism surrounding Terra Luna Classic’s strategic initiatives and underscores the value proposition of its underlying blockchain technology.

The Terra Luna Classic community’s decisive approval of the MaxBlockSize reduction proposal signifies a pivotal moment in the platform’s evolution, emphasizing its commitment to security and resilience. As LUNC and USTC prices soar in response to this development, the broader cryptocurrency community acknowledges Terra Luna Classic’s proactive stance in safeguarding its ecosystem. Moving forward, continued collaboration and innovation will remain key pillars of Terra Luna Classic’s journey towards sustained growth and development.