This is primarily done so that Terra Classic can compete with other blockchains.
The v2.1.0 Upgrade proposal has been released and can be read on the Commonwealth site.
The proposal for the upgrade to v2.1.0 of Terra Classic was issued by the Joint L1 Task Force (L1TF) for debate and evaluation on Commonwealth. Since the Terra Classic community gained control of the blockchain in May of last year during the Terra-LUNA dispute, this is one of the most significant changes.
This is primarily done so that Terra Classic can compete with other blockchains like Terra 2.0 and the many Cosmos chains. As a result, developers and projects may once again use the Terra Classic infrastructure.
All Set for June 14
The v2.1.0 Upgrade proposal has been released and can be read on the Commonwealth site, as announced on Twitter by Joint L1 Task Force (LITF) project manager LuncBurnArmy. It also confirmed that the upgrade would take place as planned on June 14 and that the proposal will be put to a vote on June 7.
Edward Kim, a professor and core developer of Terra Classic (LUNC), has said that the parity is necessary for implementing Interchain Accounts (ICA) on the network. ICA will connect the Block Entropy chain of AI applications to the Terra Classic network.
Meanwhile, the Block Entropy TestNet Faucet is where members of the community may get their hands on some Testnet tokens. DeFi‘s DFLunc protocol is also burning LUNC coins to facilitate the acquisition of Block Entropy testnet tokens by its users.
At about 17:21:02 UTC on June 14, the Terra Classic chain will be upgraded to version 2.1.0. Both the block height and the upgrading schedule are flexible. Before proceeding with the upgrade, it is necessary to update to version 2.1.0 on all nodes and validators.