Tuesday, December 6

Terra Classic Developer Initiates The Voting For The Reopening Of IBC By December 5.

Before this time, Edward Kim released an update on his proposal to reopen the Inter Blockchain Communication before the Terra classic network upgrade, in his tweet today, he revealed has just initiated the voting of the proposal of reopening the IBC.

As the previous post stated, the reopening will only be done provided the community of the LUNC supported the process as the reopening was slated previously slated to occur with the network upgrade that shall be happening by Q4, 2022.

Terra Classic Has Started Voting For The Reopening Of IBC

Edward noted; “Another proposal… Re-enable IBCs to Osmosis, Juno, and Crescent. Happy Thanksgiving!” Kim wrote, sharing the link for community members to vote.

If the proposal passes, the Terra Classic chain will once again be able to transfer value and communicate with the Osmosis, Juno, and Crescent blockchains within the Cosmos ecosystem by December 5.

Like it was said earlier that the developer once shared a glimpse of the reopening of the IBC in his Monday tweet and according to the tweet, the necessity of the reopening the IBC was revealed, saying that it should be done because of the continuous changes in the Cosmos ecosystem and extensive testing required to attain technological parity.

In this premise, the IBC reopening will permit the users to access trapped liquidity within the ecosystem, the Terra Classic chain will not attain full Cosmos interoperability till the v23 upgrade rolls out because the network upgrade contains the CosWasm update as stated by the Terra Classic Developer.

It is worth noting that the developer has already given a clue that the next network upgrade will be happening in December 2022 but the particular date has not been revealed.

Following Edward’s update on Monday, a community influencer and network validator Classy has already indicated that has voted on the proposal as Yes.


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