Terra Blockchain Halted To Prevent Governance Attacks

Following considerable inflation of its token, LUNA, and a reduction in the cost of assault, the Terra blockchain has been halted in order to defend against the possibility of a governance attack, as stated in a tweet from Terraform Labs, the company that is responsible for the Terra blockchain. This arises as a result of Terra’s stablecoin (UST) losing its peg to the US dollar, which resulted in the price of LUNA plummeting nearly 100% from its previous high of $97 to about 2 cents in less than 48 hours. A few minutes later, Terra sent a further tweet in which it said that validators are now working to restart the network within a few minutes by implementing a patch to disable further delegations. Following the completion of the patch, according to the message on Twitter, delegations will be terminated, and block production will then restart. In addition to this, an update to the blockchain will be released.The post Terra Blockchain Halted To Prevent Governance Attacks appeared first on Cryptoknowmics-Crypto News and Media Platform.