Proposal to Decrease Validators in Terra Classic
In a crucial moment for the Terra Luna Classic network, a divisive proposal aimed to reduce the number of validators has caused a heated debate within the community. Proposal 11888 suggests decreasing the validator set to 100 from 135, sparking concerns about potential threats to security and fears of centralization risks.
The Community’s Reaction
Despite the heated debates, the proposal passed with a mixed reception. The voting outcome revealed a split within the community, with 31.69% in favor, 22.49% against, and 46 abstentions. Notably, major validators refrained from taking a definitive stance, with the largest validator opting for an “Abstain” vote.
Impact on LUNC & USTC Assets
The aftermath of the decision had a significant impact on the Terra Luna Classic assets—LUNC and USTC. Following the decision, LUNC fell 10% to $0.000237, and USTC fell 15% to $0.055. The price drop and trading volume decrease indicated a decline in trader interest post-decision.
Investors proceed with caution, recognizing the need for further discussion and evaluation. The decision’s impact on the network’s future, security, and decentralization goals calls for urgent dialogue and careful consideration of what lies ahead.
Hot Take: Terra Classic Proposes Drastic Change, But at What Cost?
The proposal to reduce validators in Terra Classic has sparked intense controversy within the community. While some see it as a necessary step to safeguard the network, others fear it may lead to centralization and compromise decentralization. The decision’s impact on the assets and the divided community sentiment raises questions about the network’s future, security, and the need for further discussions and evaluations.
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