Latest Hot Development for Terra Luna Classic Holders / Lunc Coin Last Minute / Crypto Analysis
1 year ago
Terra Classic
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Edward Kim initiated a vote on the proposal to reopen IBC channels prior to the v23 upgrade. Terra classic core developer Edward Kim initiated a vote from the developer today on a proposal to reopen inter Blokcheyn Communication channels ahead of a v23 network upgrade per tweet. If the proposal passes, the Terra classic chain will once again be able to transfer value and communicate with the Osmosis, Juno and Crescent blockchains in the kosmos ecosystem, unlike the v23 upgrade as per the previous report.
"Another suggestion... Reactivate iBCs for Osmosis, Juno and krescent. Happy Thanksgiving!" Kim wrote by sharing the link for community members to vote.
The developer first shared the proposal on Twitter on Monday. According to the proposal, the developers deemed it necessary to accelerate the timeline for the reopening of IBC in light of the constant changes in the cosmos ecosystem and the extensive testing required to achieve technological parity.
While the reopening of the ibc will allow users to access liquidity trapped within the ecosystem, the Terra classic chain will not be able to achieve full cosmos interoperability until the v23 upgrade is released. The developers have also scheduled the v23 upgrade for December. However, they haven't announced a specific date yet.
Community members hope that with the reopening of iBC and Cosmos interoperability, more projects will be built for the chain and increase LUNC service. Not surprisingly, Kim's proposal received tremendous support. Community influencer and network validator klassy has already stated that he has voted in favor of the proposal.
It's worth noting that the current success is thanks to the efforts of independent Terra Classic development groups and help from Cosmos developers such as Jacob Gadikian.
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