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Terra Classic (LUNC) To See Extreme Boost In Number Of Projects, As Terra Rebels To Cut Off Dependency On TFL

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Terra Classic to attain technological parity with LUNA v2 sooner than previously expected.


Terra Classic core developer Edward Kim in a medium blog post released on Thursday, disclosed that the LUNC network would attain technological parity with LUNA v2 well before mid-2023, as previously projected. This will mean full compatibility with Cosmos v45.8 and Tendermint v0.34.

 

The latest development comes as Jacob Gadikian, a respected Cosmos developer, has offered to help “clean up the chain.” Notably, the Terra Rebels first established contact with Gadikian to help reopen Inter Blockchain Communication (IBC) on the chain so users could regain access to liquidity locked in the Cosmos ecosystem.

According to Kim, when changes are fully deployed months from now, users can expect a drastic increase in the number of projects supported by the network. However, there is one condition.

The Terra core developer revealed that most outsiders looking to help would only get involved if the Classic network is independent of Terraform Labs (TFL).

To that end, Kim reveals that the Terra Rebels are actively working on cutting off any TFL dependencies. According to Kim, this includes the development of an independent REST server architecture and possibly launching a wallet, as TFL still has some control over Terra Station.

“Terra rebels have plans to create a full node backed by Allnodes, setten_io & AutismStaking as part of making LUNC completely independent from TFL.”

However, for all of these, funding will be needed. In the blog post, the developer explores the idea of funding the community pool through a portion of the 1.2% tax, which he says will be a simple parameter change.

It bears mentioning that the post by Kim expressed the Terra Rebels roadmap released yesterday in 3 broad objectives. These objectives include:

  • Rebuild the Algorithmic Fungible Token (AFT).
  • Rebuild the Project Ecosystem.
  • Rebuild Independence.

As previously reported by The Crypto Basic, about 18 projects are already working on launching on the Classic network. Notably,  23 have shown interest in total.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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