Will LUNC Reach $1 As Kim Introduces New Way To Burn Terra Classic

AI integration could boost Terra Classic (LUNC) prices.

Terra Classic is set to integrate Block Entropy, an Artificial Intelligence (AI) powered application chain which could potentially revolutionize the chain.

Recently, Edward Kim, a key developer of the Terra classic blockchain, shared images of a partially complete whitepaper for the product, noting that the product was still under development.

Updates for the AI app chain called Block Entropy. Still building. Here is a sneak peak at the white paper that is almost finished. pic.twitter.com/8PneXKqIbl

— Edward Kim (@edk208) April 29, 2023

LUNC Block Entropy

Block Entropy is an AI app building atop Terra Classic, allowing for the creation of a new AI-powered blockchain that can facilitate a plethora of AI-based applications. Once it’s ready, the product will support a limited number of “machine-learning inference tasks.” Kim noted they plan to add support for distributed training, fine-tuning, python APIs, and SNARK verification.

On the launch timelines, the pundit further noted he expects the testnet for Block Entropy to go public “sometime in mid-May.” Notably, whereas the product is still under development, its testnet will be capable of accommodating only a limited range of ML inference tasks, including AI image diffusion, text language models, and music generation.

However, it is important to note that access to the testnet will not be free.

“To obtain TestNet tokens, you will have to send real LUNC to the burn address and enter the transaction hash into the TestNet faucet,” Kim wrote.

Kim also highlighted the development of the Interchain Accounts (ICA) module, a crucial element in the development that has already been completed. The ICA is currently undergoing testing on the LUNC L1 TestNet. According to him, once testing is done, the module must go through a governance proposal approval process before being incorporated into LUNC.

LUNC to $1?

Integrating AI into the LUNC platform is a major development for the network as more crypto firms tap into AI to improve their businesses and user experiences. As LUNC gains more utility with time, with burns and staking decreasing the circulating supply, the coin can reach $1.

This new development would also help boost Terra Classic (LUNC) prices as the cryptocurrency gains traction due to its usage of AI products. At press time, LUNC was trading at $0.0001056, up 0.61% in the past 24 hours.