Genuine Labs Proposes Major Upgrade to Terra Classic (LUNC) Blockchain

Genuine Labs, a Terra Classic developer group, recently announced that it had submitted a proposed upgrade to the Terra blockchain for governance voting.

Terra Classic (LUNC) price could be set for a positive impact following a recent proposal by Genuine Labs, a Terra Classic developer group, to upgrade the Terra blockchain.

The upgrade will see the integration of the latest version of the Cosmos Software Development Kit (SDK) as part of the v.3.0.1 software upgrade for the Terra chain.

According to LUNC validator Lunanauts, the upgrade is “essential for the stability and improvement of the Terra Classic network.”

The upgrade will fix the app hash error on the network, which has been a critical issue on the current version of the Terra chain.

The upgrade will ensure that nodes do not encounter any app hash error when there is a WebAssembly (Wasm) transaction.

The upgrade also includes support for legacy contracts with WASMD 0.45.0, which could not be imported in previous versions.

Lunanauts said the v.3.0.1 upgrade includes backporting changes to prevent peer-to-peer (p2p) storms, which have been another critical issue on the network.

These p2p storms cause “significant disruptions and inefficiencies” on the network.

The upgrade will also limit the meme and receiver length in Inter-Blockchain Communication Protocol (IBC)-go for both v6 and v7, fostering blockchain interoperability between Terra and other Cosmos chains.

If passed, the upgrade will see the chain being halted for a software upgrade at a block height of 18,303,000.

Validators will be required to replace the old binary with the new one.

The chain halt block height is expected to be processed at around June 2, when the upgrade will likely occur.

The proposal includes necessary updates and pull requests to address any “breaking changes” that might occur during the upgrade.

This will minimize any disruption and preserve Terra’s integrity.

The upgrade could positively impact Terra Classic’s price, boosting investor confidence in the ecosystem and leading to greater adoption and demand for the LUNC token.

The network’s reputation was severely tarnished following the LUNA crash in 2022.

Proposals like these can easily fix up the network’s image in the broader crypto ecosystem.

Meanwhile, crypto analyst Javon Marks recently suggested that Terra Classic’s price was primed for a 1,300% rally.

The network upgrade could serve as a catalyst to trigger this upward trend for the crypto token.

At the time of writing, Terra Classic is trading at around $0.0001128, up in the last 24 hours, as per data from CoinMarketCap.