Edward Kim has initiated voting for the proposal to re-open IBC channels before the v23 upgrade.
Terra Classic core developer Edward Kim has initiated voting for the proposal to re-open Inter Blockchain Communication channels before the v23 network upgrade per a tweet from the developer today.
If the proposal passes, the Terra Classic chain will once again be able to transfer value and communicate with the Osmosis, Juno, and Crescent blockchains within the Cosmos ecosystem by December 5, as opposed to with the v23 upgrade, per the previous report.
“Another proposal… Re-enable IBCs to Osmosis, Juno, and Crescent. Happy Thanksgiving!” Kim wrote, sharing the link for community members to vote.
Another proposal… Re-enable IBCs to Osmosis, Juno, and Crescent. Happy Thanksgiving! https://t.co/ggSxm8u2a3
— Edward Kim (@edk208) November 24, 2022
The developer first shared the proposal on Twitter on Monday. Per the proposal, developers found it necessary to speed up the timeline for IBC re-opening in light of continuous changes in the Cosmos ecosystem and extensive testing required to attain technological parity.
While the IBC re-opening will allow users to access trapped liquidity within the ecosystem, the Terra Classic chain will not attain full Cosmos interoperability till the v23 upgrade rolls out. It is because the network upgrade contains the CosWasm update, as highlighted by Terra Classic developer Raider07 in a previous report.
Developers have also scheduled the v23 upgrade for December. However, they are yet to disclose a specific date.
Community members are hopeful that with IBC re-opening and Cosmos interoperability, more projects will build for the chain, boosting Terra Luna Classic (LUNC) utility. Unsurprisingly, the proposal by Kim has received tremendous support. Community influencer and network validator Classy has already indicated that he has voted in favor of the proposal.Â
It bears mentioning that the current achievement is thanks to the efforts of independent Terra Classic development groups and the help of Cosmos developers like Jacob Gadikian.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
