Terra

The Terra 2.0 blockchain, soon to be known simply as Terra, is a recent launch from Terraform Labs following the approval of governance proposal 1623. This decentralized and open-source public blockchain protocol utilizes Luna, its native staking token, for both governance and mining purposes.

Users are able to stake Luna to validators who are responsible for recording and verifying transactions on the blockchain. In return, they receive rewards generated from transaction fees.

Terra 2.0: A New Chapter

Unlike its predecessor, Terra 2.0 will not feature a stablecoin. However, holders of the previous Terra Classic chain will receive an airdrop of new Luna native coins. As part of this transition plan, developers within the Terra ecosystem are expected to migrate and deploy their dapps on this newly established blockchain.

In conclusion, the introduction of Terra 2.0 marks a significant milestone in the continuous evolution of blockchain technology. To stay updated with further developments in this sphere and other cryptocurrency news, we invite you to discover more on Global Crypto News.