LUNC gained value today after completing a significant update necessary for the long-awaited Tax2Gas feature of Terra Luna Classic. Additionally, the proposal for the v3.1.6 update received 100% support. This development is considered a crucial milestone for the community as it aims to enhance transaction efficiency and strengthen ecosystem security.
Terra Luna Classic Update
The new v3.1.6 update includes critical improvements, such as a security patch for the WebAssembly Virtual Machine (wasmvm). The wasmvm version has been updated to 1.5.5, increasing the network’s resilience against potential security vulnerabilities. Furthermore, a simulation feature for transaction fees on taxable transactions was developed, optimizing transaction management across the network.
The update halted the blockchain at block height 20085000, allowing validators to load the latest terrad client. The unanimous vote of 100% from the Terra community reflects the strong consensus behind this proposal.
LUNC Price Surge
Following the completion of the update, the price of LUNC increased by more than 6%, reaching $0.00008679. Trading volume also rose by 22%, climbing to $20.05 million. Additionally, the cryptocurrency peaked at $0.00008804 in the last 24 hours.
Terra Luna Classic developer StrathCole noted that this update is significant for the Tax2Gas feature. Support from both validators and community members indicates a growing momentum for LUNC’s development.
LUNC blockchain was 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 occurred at a critical juncture in regaining investor confidence in Terra Luna Classic. The anticipated implementation of Tax2Gas is expected to play a significant role in LUNC’s future growth by simplifying the transaction fee tax system and enhancing overall transaction efficiency.
During the same period, USTC price also surged by over 7%, reaching $0.02188, with trading volume increasing by 106% to $49.81 million. The cryptocurrency even reached $0.02368 in the past 24 hours.
Ultimately, this major update conducted by Terra Luna Classic has been positively received by the community, aiming to enhance energy efficiency and security within the ecosystem.
