- Veteran LUNC chain validator accused of violating fair play rules
- The community strives to address the rapidly increasing centralization problem.
- Terra Luna Classic fell 16% due to very low volume.
The Layer-1 blockchain of Terra Luna Classic (LUNC) is facing another downturn as linguistic conflicts between chain validators emerge. Specifically, member BullBoss5 has written a proposal to address violations of the Dynamic Commission mechanism.
“First, we should issue a proposal that clarifies the dynComm rules and formally warns JIL2 of the violation, but does not impose any immediate consequences,” the CommonWealth text of the proposal reads. This proposal implies that the LUNC chain validator JESUSisLORD has created a secondary validator node, JESUSisLORD 2, which violates the chain’s guidelines.
This proposal accuses JESUSisLORD of splitting his voting power across two different validator nodes in order to maintain lower fee rates on the chain. If passed, this proposal would issue a formal warning message to LUNC validators, giving them time to take corrective action.
The LUNC validator responds to the claim.
JESUSisLORD perceived the move to tombstone two associated validators as “risky.” He claimed that they “did not break any chain rules,” and that both chain validators were running smoothly with high uptime.
“I will take all available legal options to stop this and to defend and protect my validators and my delegates,” states JESUSisLORD’s X message.
Terra Luna Classic price further reduced
The ongoing cryptocurrency market crash did not save LUNC, with the altcoin falling even harder than Bitcoin (BTC). While Bitcoin is down 8% for the week, hovering around $58,000, Terra Luna Classic is down 13.6% over the past seven days, trading at $0.00007569, according to CoinGecko.
With a low daily volume of $20,111,345, LUNC saw a 72% increase in derivatives volume. Despite a strong long to short LUNC position ratio of 1.36:1, LUNC funding ratio has remained negative since August 27.
On the other side
- While there is no direct rule that two validators cannot operate under the same owner, DynComm rules address potential centralization issues by dynamically adjusting fees.
Why this matters
Voting power plays a vital role in determining the direction of the chain, and a set of dynamic committee rules prevent centralization and network abuse.
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