{"id":571551,"date":"2022-05-24T16:36:36","date_gmt":"2022-05-24T15:36:36","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=571551"},"modified":"2022-05-24T16:36:36","modified_gmt":"2022-05-24T15:36:36","slug":"terra-2-0-is-not-a-hardfork-but-the-genesis-of-a-new-blockchain-says-team-luna","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/terra-2-0-is-not-a-hardfork-but-the-genesis-of-a-new-blockchain-says-team-luna\/","title":{"rendered":"Terra 2.0 is Not a Hardfork But the Genesis of a New Blockchain, says The Team Behind LUNA"},"content":{"rendered":"
Quick takeaways:<\/p>\n
The team behind the Terra (LUNA) project has clarified via Twitter<\/a> that the blockchain is not actually undergoing a hardfork, but rather the new chain created will be the genesis of a new blockchain.<\/p>\n The team at Terra went on to define a hardfork<\/a> as a change in an existing blockchain that results in two chains with a shared history but different future paths. They said<\/a>:<\/p>\n The important distinction here is that a forked blockchain \u201cshares all of its history with the original (chain)\u201d, which Terra 2.0 will not.<\/p>\n Terra 2.0 = the genesis of a new blockchain.<\/span><\/p>\n If Prop 1623 passes, a brand new blockchain (Terra) shall be created starting from genesis block 0 that will not share history with Terra Classic.<\/span><\/p><\/blockquote>\n Furthermore, the team explained that popular decentralized applications built on Terra Classic would not automatically exist on the new chain of Terra (LUNA). The Dapps will have to be migrated to the new chain.<\/p>\n At the time of writing, there are only 20 hours left before voting on Terra Proposal 1623 concludes. According to Terra Station, 77% of the possible votes in the Terra community have been cast in total. Additionally, 65.99% of the voters are for the proposal.<\/p>\nDapps on Terra Classic Will Not Pre-exist in the New Chain of Terra (LUNA)<\/h2>\n
Voting on Proposal 1623 Continues, But the Fate of Terra Hangs in the Balance as S. Korean Authorities Aim to Freeze the Project’s Assets<\/h2>\n