The post LUNC Price Slips Amid Validator Misconduct appeared on BitcoinEthereumNews.com.

The violation of a fundamental decentralization rule has been flagged in the LUNC ecosystem. The core stakeholders and whales continue to work to push LUNC to higher price levels. The price of Terra Luna Classic (LUNC) has fallen substantially in the past 24 hours amid recent developments in the community. This includes claims that a validator violated chain rules and a prominent Bitcoin (BTC) investor unveiling 40 billion LUNC holdings. Claims of Validator Misconduct On Sunday, a concerned Terra Luna Classic community member submitted a proposal for discussion with claims that the JESUSisLORD 2 (JIL2) validator broke the network rule.  Specifically, he alleged the validator created a second validator under the same entity, directly violating the Dynamic Commission (dynComm) rule. He noted that the action is a deliberate attempt to fragment their Voting Power (VP) and maintain lower commission rates for each validator. The LUNC community members have different opinions on the recent proposal and whether urgent disciplinary actions, such as tombstoning, are necessary. While some agree that the validator activity creates a bad precedent, others claim that the rule does not exist expressly. Notably, the Terra Classic community introduced the dynComm rule to promote decentralization and fairness in the concentration of power within the network. This rule changes the commission rate based on a validator’s VP; the rate increases as the VP grows.   Although the dynComm has successfully moved VP from larger to smaller validators, it also exposed a flaw that the current design cannot fix. For instance, a validator can bypass the rule by creating a secondary validator under the same entity.  To prevent further recurrence, the community member proposed that governance close the loophole using its legislative and judicial-like powers. Bitcoin Investor Reveals 40 Billion LUNC Holdings In a related development, prominent Bitcoin investor Vasil has disclosed…

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Filed under: News - @ September 2, 2024 1:24 pm