The Terra Classic community has started voting on another crucial proposal 11310. The proposal is being made by Terra Classic core developer Edward Kim to upgrade the blockchain software from v1.0.4 to v1.0.5.

Currently, the proposal has received almost 99.99% of the vote, indicating that the proposal is supported. The LUNC community has always supported Professor Edward Kim’s proposals.

Terra Classic Community votes on proposal 11310

Terra Classic core developer Edward Kim submitted proposal 11310 last week and updated it with the necessary changes. The proposal aims to upgrade the Terra Classic blockchain software to transition from v1.0.4 to v1.0.5. It will make estimating transaction costs (gas and fire load) and future chain upgrades a lot easier and smoother.

Joint L1 task force consisting of Edward Kim, Tobias “Zaradar” Anderson and other developers will fix the node’s LCD endpoint that corrects a compute problem on the LCD. The upgrade is scheduled for block 11,543,150, expected on February 14.

In fact, this is the first upgrade for the Terra Classic blockchain as per the Q1 roadmap. It is followed by v1.0.6, Cosmos SDK, Tendermint and v2.0.4 upgrades.

According to current voting data, 99.99% of voters support the proposal. Also, the proposal seems to reach the “pass threshold” before the stipulated voting period. The proposal has received 21 validation votes so far and all have voted in favor of the proposal. Among the top validators, StakeBin, moonshot, and CryptoKing voted “Yes” to the proposal.

Meanwhile, former Terra Rebels developer Duncan raised is concerned about whether the Joint L1 Task Force team still has access to the Terra Rebels repo and which repo the validators used.

Also Read: Another huge LUNC tokens being burned by the Terra Classic community

LUNC price continues to lose pace

Terra Classic loses its position in the top 100 crypto list. At the moment, Terra Classic has dropped to 47th position because the LUNC price is not rising.

The price of LUNC is down almost 9% in the past 24 hours with the price currently trading at $0.0001606. The 24-hour low and high are $0.000158 and $0.0001773, respectively. Meanwhile, trading volume is up 37% in the last 24 hours, indicating a slight interest from traders.

Also Read: 5 On-Chain Indicators Show Bitcoin Is Entering The Bull Market Cycle

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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