Terra Classic‘s core developer, Joint L1 Task Force (L1TF), presented Professor Edward Kim’s AI application chain “Block Entropy” on Wednesday. L1TF developer The Vinh Nguyen and project manager LuncBurnArmy shared new use cases for Block Entropy with the Terra Classic (LUNC) community.
L1TF also scheduled its upgrade on the Rebel-2 testnet for today, May 31. So far, eight validators have shown interest in the testnet upgrade.
Critical Period for Terra Classic
Joint L1 Task Force developer The Vinh Nguyen successfully created a cat image on Block Entropy, the first blockchain-backed AI production engine. He plans to convert the first image produced on Block Entropy into an NFT and conduct a public sale for NFTs in the future. This situation has been shared with the relevant parties.
L1TF project manager LuncBurnArmy also took to Twitter to explain the new use cases for Edward Kim’s Block Entropy AI application chain. These include image creation, video creation, AI chat, machine learning, and other tasks involving LUNC burn and Testnet tokens.
Interchain Accounts (ICA) will be included in LUNC after the successful completion of the CosmWasm v2.1.0 parity upgrade. LuancBurnArmy announced June 14 as the official date for the CosmWasm parity upgrade. The team is now preparing for the crucial upgrade on the Rebel-2 testnet today, May 31.
Will LUNC Price Rise?
The price of LUNC has fallen by over 1% in the last 24 hours, currently trading at 0.000084 dollars. The altcoin, which has experienced significant difficulties in the past, had its lowest and highest prices in the last 24 hours at 0.0000845 dollars and 0.0000870 dollars, respectively. Furthermore, the total LUNC burned by the community has reached over 60 billion dollars, suggesting that billions of dollars’ worth of LUNC might still need to be burned to reach a price of 1 dollar.
The Terra Classic community is making various efforts to increase the LUNC price, including raising the burn tax to 0.5%. However, due to uncertainties in the wider crypto market, the price may continue to fall.
