Terra Blockchain Temporarily Stops Block Production, Aims to Restart Network With a Patch – Bitcoin News

: “The Terra blockchain was officially halted at a block height of 7603700. Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.”

On May 12, 2022, Terra’s native token LUNA dropped to an all-time low of $0.00825774 per unit. The once-stable coin terrausd has been quite volatile and has seen a 24-hour price range between $0.842598 to $0.315279 per coin. UST which was once a top ten coin, is now ranked 25, while LUNA was also a top ten coin and is now ranked 112 among 13,419 cryptocurrencies.

Following the update, the Terra team explained a patch was in the works to reboot the network. “Validators are applying a patch to disable further delegations, and they will coordinate to restart the network in a few minutes,” the team“The prevailing peg pressure on UST from its current supply overhang is rendering severe dilution of LUNA,” the team.

it will recover stronger than before... LUNA terraluna stablekwon terra_money UST

UPDATE ~~ According to the development team: 'The Terra blockchain has resumed block production' on May 12, 2022, at 2:02 p.m. (ET).

Fake news 😂🗞️ ambiguous !! Show or mention the twitter account that we can read too .

Which twitter account says that? Don't talk ambiguous 🤥 show evidence 🧾

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Updates Regarding Terra (LUNA) Network Congestion (2022-05-12) | Binance SupportUpdates on Terra (LUNA) network congestion. The network is experiencing slowness and congestion, which is intermittently causing a high volume of pending Terra network withdrawal transactions on Binance. We are continuously monitoring the network status and working to provide Binance users with the best possible experience. Please note there may be periods where $LUNA network withdrawals are temporarily suspended due to the network congestion. All m'y Mony gon with luna im Homeless now .nice to meet you luna Say hallo to Musk meet you in hell mfk Why luna went that low, Luna pump 💀
Source: binance - 🏆 561. / 51 Read more »

Terra blockchain token LUNA falls below $15The price of LUNA, the governance token of the Terra blockchain ecosystem, fell sharply on Tuesday. 😬 Buying in the single digits So $Luna was a big Ponzi
Source: TheBlock__ - 🏆 464. / 53 Read more »

Over $700 Million Liquidated as Terra (LUNA) Crashes Below $1The crypto markets turned dark red once more, with the number of liquidated traders nearing 300,000.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Terra Death Spiral Hits $3 as Bailout Rumors FadeTerra has continued to collapse as the blockchains UST stablecoin has failed to regain its dollar peg. Rumors that a venture capital-backed bailout has fallen through have added increased downward...
Source: CryptoPanicCom - 🏆 563. / 51 Read more »

Terra founder Do Kwon shares plan to save the UST stablecoin peg⬆ +12 Terra founder Do Kwon shares plan to save the UST stablecoin peg $UST terrausd $LUNA terra $LUNA terra
Source: CryptoPanicCom - 🏆 563. / 51 Read more »

UST Falls to $0.35, Terra Futures See $106M in LiquidationsFutures traders lost $106 million on Terra’s LUNA in the past 24 hours as prices fell below $7. By shauryamalwa
Source: CoinDesk - 🏆 291. / 63 Read more »