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Terra Luna Classic to Release Terra Upgrade v.2.5 on October 18th

Terra
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Terra Luna Classic is set to undergo an upgrade to version 2.5. This is scheduled to occur at block height 7316000 on October 18th at 12:04 pm UTC.

Refer to the official tweet by LUNC:

Terra 🌍 Powered by LUNA 🌕
@terra_money

Proposal 4785 to upgrade Terra to v2.5 has passed. The chain is expected to temporarily halt to execute the upgrade at block height 7316000 (~ Wednesday, October 18, 2023, 12:04 PM UTC)

Details on the upgrade: https://t.co/J3cvFkrAcJ

Ott 16, 2023

LUNC Info

Terra is a blockchain protocol for global payment systems that utilizes stablecoins pegged to fiat currencies.

Terra stands out by employing stablecoins tied to fiat currencies, claiming to combine the borderless advantages of cryptocurrencies with the everyday price stability of fiat currencies. The 1:1 price peg is maintained through an algorithm that automatically adjusts the supply of the stablecoin based on demand.

The security of the Terra network is ensured by a proof-of-stake consensus algorithm based on the Tendermint protocol. In this system, LUNA token holders participate in transaction validation by staking their tokens, receiving compensation directly proportional to the amount of LUNA they have staked.

LUNA Classic (LUNC) is the original Terra LUNA coin left behind after the recent UST/Luna collapse and the establishment of a new Terra chain.

The old chain was split into the LUNA Classic and the Terra chains. Terra will be the name of the new chain (known as LUNA 2.0), and LUNA Classic (LUNC) is the original Terra LUNA blockchain’s native token.