Terra completes the network upgrade, joining LUNA with Cosmos, Solana and Polkadot | Cryptocurrency

  • The upgrade from Terra to Columbus 5 is in progress and is expected to bring more scalability and functionality to projects.
  • Columbus 5 is Terra’s most important to date as it introduces a new “burn out” policy.
  • The wormhole, or the bridge between the Terra and Solana projects, is commissioned from Columbus 5.

The Terra ecosystem undergoes major changes with the arrival of Columbus 5. The update brings a multitude of developments and features to the protocol.

Columbus 5 is here, Wormhole and Burn policy will be available soon

Terra’s most important update to date was released at 03:30 GMT on September 30, 2021. The update brings three critical changes to Terra. There is a planned upgrade to Stargate, integration of the IBC protocol, Ozone, Wormhole, and a new burn policy.

These changes should positively influence the growth of the ecosystem.

The most anticipated addition is the “burn policy”. Traders and speculators awaited the introduction of burning at LUNA.

Supporters expect this new policy to have a similar impact on LUNA as it does on the Ethereum ecosystem, removing tokens from circulating supply by burning them. Also, it should have a positive impact on the LUNA price by creating a shortage on exchanges.

LUNA has offered relatively higher risk-adjusted returns than most other cryptocurrencies for the past two weeks in predicting the Columbus 5 launch. Analysts have compared the altcoin to Solana before its explosive rally.

Mike Novogratz, CEO of Galaxy Investment Partners, is delighted with the arrival of Columbus,

Stargate will allow integration with the Inter Blockchain communication protocol to facilitate more cross-chain use cases. Terra currently has 8 live protocols, and the number is expected to multiply in the future with Stargate.

UST is expected to emerge as a preferred stablecoin for decentralized applications.

Ryan Watkins, a senior research analyst at Messari Crypto, estimates that UST’s growth will accelerate beyond the $ 2.5 billion in circulation.

The introduction of Wormhole and Ozone provides security to projects built by Terraform Labs and connects projects from Terra to Solana. As UST moves between the two networks, analysts are expecting further integration and collaboration between projects on the two blockchain networks.

The launch of the wormhole sparked an explosive demonstration in Solana. Therefore, it is considered a key factor that can increase the demand and the utility of LUNA.

The team behind Terra will share more updates once the update is complete. Until then, they do not recommend any interaction with the Terra blockchain.

Jay Jaboneta, CEO of DLSL Nexus, expects more than 50 protocols to be uploaded to Terra in the coming months. Soap tweeted,

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