In a recent development, one of the lead members of an independent Terra Classic development group, Rex Harrison, highlighted seven risks facing the LUNC blockchain.
The developer shared via his Twitter page today, giving the community of general improvement even as they work to over the challenges in the network.
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Rex States Risks Facing LUNC Blockchain
The risk currently faced by the network include the following;
- Centralization risks from concentrated voting power
- Security risks, as some validators have their keys in the custody of Allnodes, a node-hosting service
- Broken technology
- Instability in governance decisions, citing the frequently changing tax parameter on the blockchain, which could potentially discourage business and investors
- poorly-informed and toxic leadership
- Poor image in the investor community
- Lack of accessibility
However, Rexzy noted that the centralization, security, technology, and accessibility risks are reducing. However, he says that the image risk remains high while leadership concerns are growing.
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It is worth noting that in recent weeks, concerns over the operations of Allnodes have dominated the discourse in the Terra Classic community. It comes as Notional Labs founder Jacob Gadikian raised concerns over the high cumulative voting power of the node-hosting service provider, which he placed at chain-breaking levels of 40%. In addition, he also alerted the community of Allnodes’ practice of holding on to the seed phrases of validators using its service. The developer urges users to stake their Terra Luna Classic (LUNC) elsewhere.
Rex Mentions Some Other Ways To Get LUNC Up By 100X
Recently, a renowned member of the LUNC community took out time to point out the sure means through which the LUNC can spike to 100X its price other than the general belief of the community which solely believes in the LUNC burn to get the price up.
Rex further said that there are a lot of ways to get LUNC up to that level aside from burning, he mention the idea of increasing the sporadically increase amount of LUNC staked to about 50% of the total amount in circulation.