Terra Classic Gets a Boost: Tax2Gas Module Implementation and More

Genuine Labs, a development team dedicated to Terra Classic, has provided a two-week update on their efforts to revitalize the blockchain. The update highlights several key developments and upcoming plans, reflecting their commitment to the project and appreciation for the community’s support.

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Highlights of the Past Two Weeks

The past two weeks have seen significant progress on the Terra Classic chain, with Genuine Labs focusing on:

  • Tax2Gas Module Implementation: This module is a major addition, designed to streamline tax calculations and gas consumption within the Terra Classic ecosystem. Here’s what it entails:
    • Gas Price Management: The Tax2Gas module now stores gas price values for 22 Terra Classic denominations (denoms).
    • Automated Tax Conversion: Taxes will be automatically converted into gas at the designated rates.
    • Success-Based Consumption: Gas will only be consumed upon successful transaction completion, promoting efficiency.
    • Dynamic AnteHandler: The AnteHandler deducts tax based on the actual gas consumed at that point in the transaction, preventing excess tax deduction.
    • Simplified PostHandler: The PostHandler calculates the final gas consumption and converts it back to taxes, ensuring accurate accounting.
  • Improved Wasm Handler Plugin: This update aims to simplify contract development within the Terra Classic ecosystem:
    • Automated Tax Calculation: The plugin now automatically calculates taxes instead of requiring developers to implement it within their contracts.
    • Streamlined Fee Deduction: The plugin directly deducts taxes from the transaction amount, reducing complexity for developers.

Looking Ahead: The Next Two Weeks

Genuine Labs outlines their plans for the next two weeks, focusing on rigorous testing of the newly implemented features:

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  • Unit Testing: Thorough unit testing will ensure the individual components of the Tax2Gas module and plugin function as intended.
  • End-to-end Testing: Comprehensive end-to-end testing will assess the overall functionality and identify potential integration issues.
  • Manual and Testnet Testing: Manual testing and testing on the testnet will provide real-world scenarios for further refinement.

A Community-Driven Effort

Genuine Labs emphasizes the importance of community support in their development efforts. They express gratitude for the Terra Classic community’s encouragement and continued belief in the project’s potential.

Conclusion: A Step Forward for Terra Classic

Implementing the Tax2Gas module and the improved Wasm Handler Plugin represent significant advancements for Terra Classic. These developments aim to enhance developer experience, optimize gas usage, and potentially revitalize the ecosystem. The upcoming testing phase will be crucial in ensuring the smooth operation of these new features. With continued development and community support, Terra Classic can move towards a more sustainable and user-friendly future.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.