The community still needs to pass some additional governance proposals to upgrade the Tendermint client. While, the code has successfully passed initial testing, and the developers are working on additional testing seeking more external scrutiny.
It should be made known that the IBC re-opening was initially planned to go along with the v23 upgrade. However, Edward Kim, a core developer for Terra Classic, stated in November that they had decided to advance the schedule in order to keep up with improvements to the Cosmos ecosystem. Therefore, the separation of IBC channels and the network upgrade is significantly important, leading to an earlier arrival of IBC channels reopening.
Reopening IBC channels will potentially help the developers construct and update their projects to accept LUNC and draw the emerging Terra Classic community according to the ability to transfer value across other Cosmos chains.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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