Now that the plan has been approved, on June 14 the L1TF will update the chain.

The vote tally for proposal 11561 “Upgrade to v2.1.0” was 99.99% in favor.

The request to upgrade to v2.1.0 Parity put out by the core development group Joint L1 Task Force (L1TF) was unanimously approved by the Terra Classic community.

Now that the plan has been approved, on June 14 the L1TF will update the chain, drastically altering Terra Classic in the process. The main benefit is that Terra Classic will finally be on par with other blockchains like Terra 2.0 and other Cosmos chains. As a result, developers and projects may once again use the Terra Classic infrastructure.

Significant Modifications Around the Corner

It’s one of the most significant updates since the Terra Classic community assumed control of the blockchain in May of last year, after the Terra-LUNA dispute. LuncBurnArmy, the project manager in charge of the Joint L1 Task Force, has declared that June 14 will be the official date of the CosmWasm v1.1.0 parity update.

The countdown timer indicates that the Terra Classic will update to version 2.1.0 of its firmware on June 14 at 13:15:23 UTC (block height 13215800). Both the block height and the upgrading schedule are flexible.

Before proceeding with the upgrade, it is necessary to update to version 2.1.0 on all nodes and validators. Developers Fragwuerdig and Vinh Nguyen are available to help dapp and smart contract providers with upgrades and migrations. For projects requiring ‘sealed’ smart contracts, L1TF or its creators must be contracted as well.

CosmWasm v1.1.0, a minimum 5% fee for validators, and two security fixes are the major aspects of the v2.1.0 upgrade. Upgrades to WasmVM (now at version 1.1.2), Wasmd (now with multichain support), IBC (now at version 4.3.1), and bug fixes round out the list of modifications.

The vote tally for proposal 11561 “Upgrade to v2.1.0” was 99.99% in favor, with just 0.01% voting against it. Almost no one voted “Abstain” or “No with veto” on the proposition. 

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Filed under: Bitcoin - @ June 8, 2023 5:10 pm