The Terra Luna Classic community is currently voting on a significant proposal aimed at upgrading their blockchain. This upgrade focuses on simplifying tax handling processes and enhancing security measures on the network.

The proposed update is intended to assist developers and decentralized applications (dapps) within the broader Cosmos ecosystem to build more easily on the Terra Classic network. Such improvements are crucial for expanding the ecosystem and attracting more projects to the network.

In market terms, the LUNC price chart has displayed a triangle pattern breakout, resembling a recent trend observed in XRP. This technical pattern has sparked discussions and speculation within the community, with some forecasting that LUNC might reach the $1 mark.