The highly anticipated launch of Terra’s new Blockchain (Terra 2.0 or LUNA 2.0) recently took place as planned. The network has formed its first block and additional services are expected soon. Meanwhile, a professor pointed out some factors in the Terra 2.0 network. Here are the details…
Important comment for LUNA 2.0
Twitter user and South Korean professor Jaewoo Cho, according to related chain information and code comments, says that by default, the Terra 2.0 network is still locked (lock- He said that all users (even exchanges) in the up phase will transfer their tokens to random validator nodes. In the contract code comments, the authorities did not publish the relevant announcements as well as the information in the “enforceStakingForVestingTokens, apply tokens to be staked” section in the contract code comments. Jaewoo Cho believes this is unethical and reminds all Terra 2.0 owners (including exchanges) to reauthorize or deauthorize.
Cho says that staking users’ and exchanges’ tokens to be transferred to random validators is a “ninja code”. In Proof-of-Stake networks, tokens provide a certain amount of return when staking, and the amount of staked asset is important for governance. Terraform Labs founder Do Kwon stated that the code in question is in line with the management style of the new network. He also stated that it was not hidden in any way.
Information about the new network
As we have reported as Kriptokoin.com, Terra 2.0 is now on the market and producing blocks. Terra’s team has revealed that the new chain has officially gone live and is already generating blocks. The team also revealed that users can do “multiple things” with their liquid LUNA, such as staking, earning rewards, participating in government decisions, and so on.
It’s also worth noting that this is a new Blockchain, not a fork, so decentralized applications on the classic chain will need to restart the new one. However, one of the most pressing questions many people wondered about was whether centralized exchanges and service providers would support the airdrop. Huobi, Binance, KuCoin, Bitrue, FTX, Bitfinex, GateIO, ByBit, Nexo and many other exchanges support airdrop.
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