New Terra Blockchain Goes Live

New Terra Blockchain Goes Live

Terra’s Co-Founder Do Kwon in October 2019. Source: A video screenshot, Youtube/Terra

New Terra Blockchain Goes Live

New Terra Blockchain Goes Live Relaunching its ecosystem after a catastrophic collapse that decimated billions of dollars of market value, the Terra (LUNA) blockchain began creating blocks on Saturday.

In a statement, the Terra team said, “Today marks the beginning of a new chapter for the Terra community; one in which our potential is limitless and our collective creativity may thrive.”

Terra Classic, the new chain, and Luna Classic, the native token of Terra Classic (LUNC). This algorithmic stablecoin, like the failed terraUSD (UST), is not included in Terra’s new ecosystem. “The only value I can come up with is exit liquidity,” some analysts have said about the new cryptocurrency, LUNA, without UST.

Dapps (decentralized applications) from the original Terra chain, or the new Terra chain, have already made plans to migrate.

For individuals interested in seeing their wallet balances on the new chain, the Terra Station team has announced that they can do so by selecting the “Phoenix-1” network in their browser extension.

New Terra Blockchain Goes Live As a result, Terra Station users can stake their liquid LUNA on their favourite validators to earn rewards and participate in governance choices, use it on decentralized applications (dapps) when they launch, or trade it on an exchange.



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