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Terra’s Blockchain Resumes Block Production

Twitter icon  •  Published 3 years ago on May 16, 2022  •  Hassan Maishera

The Terra team told its community via a tweet on Friday that the Terra blockchain has resumed block production.

Terra’s Blockchain Resumes Block Production

The Terra team told its community via a tweet on Friday that the Terra blockchain has resumed block production. This latest development came only a few hours after the team halted block production. Terra said its validators have decided to disable on-chain swaps, and Inter Blockchain Communication (IBC) channels are now closed. Furthermore, Terra users were asked to bridge off-chain assets to their native chains.

Terra is an algorithmic stablecoin platform operating on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint. LUNA, the native token of the Terra ecosystem, is down by more than 13% in the last 24 hours and is trading at $0.00024113 at press time. 

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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