Terra fork won't work, says Binance CEO Changpeng Zhao

The thinking that the fork would create any value is “wishful,” according to Zhao.Binance CEO Changpeng Zhao says he doesn't think Terra's plan of forking the blockchain will work because it won't provide any value.in a tweet on Saturday."Forking does not give the new fork any value. That's wishful thinking."for Terra after its collapse last week. Kwon pitched forking the Terra blockchain — creating a new chain — and distributing 1 billion tokens to stakeholders.

"The Terra community must reconstitute the chain to preserve the community and the developer ecosystem," Kwon said. Still, according to Zhao,"minting coins does not create value." It just"dilutes the existing coin holders."Zhao also questioned where the Luna Foundation Guard's bitcoin reserves are."Shouldn't those BTC be ALL used to buy back UST first?" he asked.on Friday, more than $1.2 billion in bitcoin reserves remain unaccounted for by the Luna Foundation Guard.

The tokens collapsed when UST lost its peg to the US dollar, putting incredible pressure on LUNA to keep its price up. Because of the way the two tokens were designed to interact, this led to a huge supply increase in LUNA and a resultant price crash.of Terraform Labs, having co-led its $32 million seed round in 2018. Terraform's other notable investors include Coinbase Ventures, Polychain Capital, Pantera Capital and Hashed.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Some people like it and brought Luna down But it will go back up That's right

He rights

Let's see. There is nothing to lose, to be honest.

What’s with this guy?

We want solution, not a criticism to an available one.😀 If forking won't work then suggest to TFL the idea that will work. Period!

Yogita_Khatri5 How would it work? If they cant repeg, luna2 will just be a selloff of a project that doesnt work.

Yogita_Khatri5 to restore trust, you have to stay like that, determine the origin of the problem and correct it.

Yogita_Khatri5 using internet explorer, their news and updates are so slow, whats 'news' is next? 'Russia attacks Ukraine'?

Yogita_Khatri5 Just Fucking Burn this Luna coin to make it up with people , come !!!!!!!!!!!!!!!! 90 % BURN !!!!! BURN !!!! BURN !!!!

Yogita_Khatri5 stablekwon terra_money

Yogita_Khatri5 Some months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Allison_Grillo I was able to earn $50,000 now am financially stable.

Yogita_Khatri5 I thing the terra team has no capability to run luna coin, it should be handover to CZ, he is the only person who run this coin again..

Yogita_Khatri5 until same

Yogita_Khatri5 note stretch slow thank wait

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