Terraform Labs founder Do Kwon’s plan to Hard fork the Terra blockchain has been rejected by 90 per cent of the preliminary voters.
The Terra Luna revival plan.
Do Kwon had proposed a Hard fork, a procedure after which the old Terra chain will be split into two new chains, one of which will be devoid of the algorithmic stablecoin TerraUSD. The previous chain will utilise Terra Classic (token Luna Classic – LUNC), whereas the new chain will use Terra Luna (token Luna – LUNA).
Majority of voters reject the plan
As per the data collected from a preliminary poll conducted on Agora's forum, the platform where Do Kwon had first posted his revival plan 1.90 per cent of the preliminary voters rejected the proposal. It is noteworthy to mention that voting on the forum is still active on the matter.
CZ had similar views
On Twitter, Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange by trading volume, explained why a Terra network Hardfork (permanent divergence from the previous version of the blockchain) would not be a good idea for the revival of Terra ecosystem.
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