The Terra blockchain can’t stop/won’t stop feeding your every doom scroll need.
Someone explain in football terms?
— The Professor 🕵🏽 (🐼 🧪) (@papiVXV) May 12, 2022
Terra (ticker symbol: LUNA) announced it has halted its blockchain to prevent further governance attacks. The Terra Network has been in dire straits since its native stablecoin lost its peg Monday night.
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- To mitigate potential attacks, as the inflation makes them vulnerable to attacks, the Terra decided to take the step of not processing anymore blocks.
- “Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack,” Terra said via Twitter. Terra added, “Validators are applying a patch to disable further delegations, and they will coordinate to restart the network in a few minutes.”
- Binance said earlier today that it would tdelis LUNA if Terra’s flagship token were to fall below $0.005 USD.
- On the news, LUNA is up 17% in the last hour. As of press time, LUNA is trading in the $0.013 range.
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