Terra blockchain halts block production and adjusts mechanism! Official statement: To prevent governance attacks and reduce the cost of consensus attacks.
Terra's official statement indicates that Terra blockchain validation nodes have stopped producing blocks at block height 76003700, reportedly to prevent governance attacks and reduce the cost of consensus attacks due to extreme inflation of LUNA.
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The Terra team has announced that Terra blockchain validation nodes have stopped producing blocks at block height 76003700, reportedly to prevent governance and consensus attacks due to extreme inflation of LUNA and the decreasing cost of consensus attacks.
Shortly after, the official statement mentioned that validation nodes are deploying a new patch that prohibits new delegations of stake due to Terra's use of DPoS (Delegated Proof of Stake). This means it will not allow more delegators to join and will soon restart the network.
At the time of writing, LUNA is at 0.014, and UST is at 0.37.
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