The Creators of Terra Will Launch a New Blockchain
Terra representatives said that the “revival plan” of the project involves the creation of an entirely new blockchain.
They added that if a classic fork was made, the new network would inherit the history of the original blockchain. And this is exactly what will not happen with Terra 2.0.
According to the project team, if proposal 1623 is accepted, a new blockchain (Terra) will be created from the zero genesis block. Thanks to this, the new project will not have a common history with Terra Classic.
Based on this, applications or assets from the old network will need to be transferred to the new one. According to the project representatives, the developers of most popular dapps, including Prism, Stader, RandomEarth and OnePlanet, are ready to be transferred.
Ecosystem validator Orbital Command later revealed that the mainnet launch of Terra 2.0 would be on Friday, May 27th.
Earlier, Terraform Labs co-founder Do Kwon proposed a hard fork and called it “a chance to revive the project from the ashes.” But the community reacted to this idea negatively.