LUNC gained value today after Terra Luna Classic completed the major update required to implement the long-awaited Tax2Gas feature. Additionally, the proposal for the v3.1.6 update received 100% support. This development is considered an important milestone for the community because it aims to increase transaction efficiency and strengthen ecosystem security.
Terra Luna Classic Update
The new v3.1.6 update includes critical improvements, including a security patch for the WebAssembly Virtual Machine (wasmvm). The Wasmvm version was updated to 1.5.5, increasing the resilience of the Terra Luna Classic network against potential security vulnerabilities. Additionally, the transaction fee simulation feature for taxable transactions has been improved, optimizing transaction management across the network.
The update stopped the blockchain at block height 20085000, allowing validators to install the latest terrad client. This proposal, which passed with 100% voting support from the Terra community, showed how strong the consensus behind the update was.
Increase in LUNC Price
Following the completion of the update, the LUNC price increased by more than 6% today, reaching $0.00008679. Transaction volume increased by 22% to 20.05 million dollars. Additionally, the cryptocurrency climbed to a peak of $0.00008804 in the last 24 hours.
Terra Luna Classic developer StrathCole stated that this update is important for the Tax2Gas feature. Support from both validators and community members indicates that there is growing momentum for the development of LUNC.
LUNC blockchain successfully upgraded to v3.1.6! This update added a security patch for wasmvm and included gas simulation improvements. Thanks to all validators and StrathCole for the excellent update.
The update comes at a critical juncture in Terra Luna Classic’s process of regaining investor confidence. The anticipated Tax2Gas implementation is expected to play a key role in the future growth of LUNC by simplifying the transaction fee tax system and improving overall transaction efficiency.
The USTC price increased by over 7% to $0.02188 during the same period, and the transaction volume increased by 106% to $49.81 million. The cryptocurrency rose to $0.02368 in the last 24 hours.
Finally, this major update to Terra Luna Classic has been positively received by the community, aiming to increase energy efficiency and security in the ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
