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Terra (LUNA) Sees Major Upgrade, Here's What's New

Thu, 04/20/2023 - 14:29
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Tomiwabold Olajide
New upgrade includes variety of new additions
Terra (LUNA) Sees Major Upgrade, Here's What's New
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Terra, the blockchain that underpins the LUNA cryptocurrency, has received a new upgrade. An official upgrade to v2.3.1 occurred some hours ago, and blocks are currently being produced. The new upgrade includes a variety of new additions, including Alliance.

Alliance, an open-source Cosmos SDK module, uses interchain staking to let blockchains build economic alliances. By gaining users, liquidity and developers, increasing staking yield, and guiding monetary policy (L1 token inflation and fees) toward encouraging desired user behaviors, chains like Terra's can enhance their decentralized economy through integration.

Also, proposal 4717 to upgrade Terra Core to v2.3.0 has passed. This chain-halting upgrade would support the integration of the Alliance module on the Terra mainnet.

Terra (LUNA): Feature That Would Allow Interchain Staking Launches on Testnet

The new Alliance module and other improvements were integrated as part of Terra's upgrade on Pisco (its testnet chain) on March 21, 2023.

Following the UST depeg that caused its ecosystem to collapse in May 2022, Terra has continued to develop. However, it can take some time for the ecosystem to recover its previous splendor because of obstacles like legal hurdles and other factors.

Terra Founder Do Kwon's Arrest Confirmed by Korean Officials

Do Kwon, Terra co-founder, was detained in Montenegro late last month while attempting to board a private plane at an airport in Podgorica, the country's capital, according to South Korean authorities.

Prosecutors in Montenegro have reportedly handed indictments to the Terra co-founder following his arrest.

At the time of writing, LUNA was marginally up in the last 24 hours at $1.41.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.