- Terra Luna Classic approves mandatory KYC for developers, strengthening security.
- Measure seeks to prevent anonymous developments and protect against threats such as malware.
- Community overwhelmingly supports the proposal, reflecting commitment to security and legitimacy.
The Terra Luna Classic community has taken a significant step towards the security and integrity of its blockchain.
The approval of Proposition 12033, which requires all Tier 1 (L1) developers to undergo Know Your Customer (KYC) procedures in order to contribute code to the Luna Classic blockchain, marks a crucial milestone in the evolution of this crypto ecosystem.
The initiative, powered by SolidVote LUNC Validator, seeks to ensure that there are no anonymous development teams operating on the blockchain.
This not only provides an additional layer of security against threats such as malware and Trojans, which could compromise the network, but also provides confidence to the community, investors and utility providers.
The approval of the proposal at Terra was not without challenges for the team
There was intense debate within the community, with 48% of validators initially opposing the move.
However, with a massive 90.5% turnout, an overwhelming consensus was finally achieved in favor of the proposal.
This result underscores the community’s commitment to the safety and legitimacy of Terra Luna Classic.
Recognition of the proposal’s approval came from “Mr. Diamondhandz1”, a prominent figure in the LUNC community, who highlighted the achievement on social media.
BREAKING: $LUNC proposal #12033 requiring L1 developers to KYC to a third party provider in order to submit code on the #LunaClassic blockchain has officially PASSED. Thank you to all who voted, time to rebuild #LUNC. 🛠️🌕💎🤲🏻 #Crypto #LUNCcommunity pic.twitter.com/hvA9CaThF7
— Mr. Diamondhandz1💎 (@MrDiamondhandz1) February 8, 2024
His message of thanks to everyone who participated in the vote highlights the importance of community participation in decision-making within the crypto ecosystem.
With the proposal approved, Terra Luna Classic is expected to embark on a period of rebuilding and strengthening.
This involves not only implementing KYC procedures for developers, but also working on continuous improvement of the blockchain and the community in general.
The approval of Proposition 12033 represents a step forward for Terra Luna Classic in its search for security and legitimacy.
With an engaged community and a renewed focus on protecting against potential threats, the future of Luna Classic looks increasingly strong and promising in the current crypto landscape.