Friday, December 9

Tag: proposal

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

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. https://twitter.com/edk208/status/1595638311892258817 If the proposal passes, ...
Terra Grants Program Running To Claim 1.6 Million USTC, As Proposal 8813 Got A 92.15% Yes
Blockchain

Terra Grants Program Running To Claim 1.6 Million USTC, As Proposal 8813 Got A 92.15% Yes

According to Sunday’s tweet, Crypto Classic noted that proposal 8813 had passed the governance vote, in this view, a total of 1.6 million USTC is going into the new grants program running. As gotten from the voting record, 62% of the community took part in the voting with a total of 92.15% voting “yes,” while 7.66% opted to abstain, with only 0.1% voting against it, showing overwhelming support. Read Also: Terra Classic Spikes 273% In Three Months, 25% In 24 Hours, LUNC Revives Daily https://twitter.com/ClassyCrypto_/status/1589291464755798017 Kim is to get $57,600 worth of Terra classicUSD (1.6 million USTC) from Terra Classic as he rolls out the grants program Following the community approval of the recent proposal. The Terra Classic community get ready to roll out a ...
Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs
Ethereum

Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs

Unfortunately, the increased adoption of Ethereum’s network has been seriously endangered due to the unbearable gas fees and scalability concerns. For this reason alone, various DeFi projects consider to launching on the competing Layer 1 blockchain. For instance, Yuga Labs proposed that the ApeCoin DAO consider a migration to another Layer 1 blockchain. The vote was initiated then and the network voted against it narrowly. If not by now the project would have migrated to Avalanche. The Ethereum CEO, Buterin, proposed earlier how the memory gas costs can be adjusted. He suggested solving efficient issues with how memory consumption is limited on the EVM. https://twitter.com/VitalikButerin/status/1550741734082191362 Vitalik stated in the post “Currently, we limit the memory c...
IOG Team Successfully Hard Forked The Cardano Testnet; Pathway To Vasil Upgrade On Mainnet.
Cryptocurrency

IOG Team Successfully Hard Forked The Cardano Testnet; Pathway To Vasil Upgrade On Mainnet.

Recall the promise of the IOHK team during the postponement of the Vasil Hard Fork Launch in June, which was due to the outstanding bugs and necessary tests that must be run on the upgrade before its launch on the mainnet. As stated by the IOHK team, the postponement was mandatory to prevent the integrity of the Cardano community. A few days ago, the proposal was submitted and gave a glimpse of the Hard Fork release.  It is good to know that presently, Vasil Hard Fork is now on the testnet waiting for its release on the mainnet which was slated to go live in the later part of July. Read Also: Columbia Developers In Conjunction With Ripple Introduces The First Land Registry On The XRP Ledger. As reported earlier by Cryptolifedigital, it was designed to come live on testnet a...
New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?
Cryptocurrency

New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?

A LUNC investor has fielded a proposal to burn tokens and cause a sharp spike in price. For some time now, the Terra community has complained that Do Kwon and Terraform Labs have left LUNC and UST. A previous demand by the community for TFL to implement a LUNA burning mechanism was rejected, and Do Kwon and his team instead elected to create Terra 2.0. Currently, another proposal by a LUNC investor is causing ripples within the community and the crypto market. The proposal suggests a straightforward LUNC burning mechanism that will lead to a decrease in supply and a price increase. Read Also: Binance To PayPal Short Guide: How To Transfer Crypto From Binance To PayPal The LUNC Burning Mechanism As stated by the proposal, a 1.2% tax/burn will be implemented on all LUNC tra...