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Major Validator Calls for Completely New Chain to Replace Terra


Anna Martynova

After the collapse of the Terra ecosystem, the community decides what the next steps should be. The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain and hopes a whole new blockchain will be created to replace it.

Jiyun KIM, CEO of blockchain solutions company DSRV, wrote a post in his own name detailing how cautious the Terra team was about the idea of ​​stopping block production while LUNA prices crashed and its Terra USD stablecoin ( UST) was depegged. He calls on validators in the Terra ecosystem to abandon the hard fork in favor of a completely new community-driven blockchain.

Terra founder Do KWON proposed on May 13 to recreate the network and reduce the number of tokens to 1 bln LUNA. Kim seems to completely disagree with Kwon as he wrote in his post that reusing the Terra blockchain would completely reduce the internal value of the Terra blockchain to zero.

Image: Outlook India


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