Terra (LUNA) Team Confirms Terra 2.0 Is Not A Fork But Entirely New Chain

Terra team reveals Terra 2.0 is not a fork.

For days now, there have been speculations as to whether Terra 2.0 will be launched or whether Do Kwon and his team will change their minds and agree to burn extra Luna tokens to revive the dwindling price. Now, it appears that Terra 2.0 will happen.

However, contrary to what most people thought, Terra 2.0 will not be a fork of the Terra chain that’s currently harboring Luna.

Instead, it will be a whole new blockchain network that will start from Genesis block 0. Terra shared this revelation in a recent Twitter thread. Earlier on, Do Kwon had tweeted that Terra 2.0 will be a hard fork of Luna. That doesn’t seem to be the case anymore.

1/ Recently, a few community members (including some from TFL) have referred to the proposed new blockchain in Prop 1623 as a “fork” as opposed to a genesis chain.

Note: The revival plan is not proposing a “fork” of the existing chain, but rather the creation of a new one ?.

— Terra ? Powered by LUNA ? (@terra_money) May 23, 2022

Terra 2.0 Will Not Share History With Current Terra Chain

Terra sought to distinguish between a hard fork and a new blockchain network in the Twitter thread. First off, a hard fork shares history with the original chain, but a new chain doesn’t. This means that Terra 2.0 will not share any history with the current Terra Luna chain (which will now be called Terra Classic).

As such, Proposal 1623 is about the complete re-birth of Terra as opposed to tweaking the chain to create a split chain of the current one. However, Terraform Labs has yet to develop a launch date or a roadmap for the new Terra 2.0.

DApps To Migrate To Terra 2.0

Since Terra 2.0 will not share any history with the original chain, dApps and other projects that are currently on Terra (Luna) will have to be migrated to Terra 2.0. The point to note here is that in the case of a hard fork, dApps pre-exist in the new chain. This will not be the case with Terra 2.0.

According to Terra, various popular dApps have already pledged to migrate to Terra 2.0 once the new chain is launched.

6/ Most of the popular dApps built on Terra Classic have already committed to migrating, including @prism_protocol, @staderlabs, @randomearth_io, @oneplanet_NFT, & many more ?.

— Terra ? Powered by LUNA ? (@terra_money) May 23, 2022

Prism Protocol, Stader Labs, Random Earth, One Planet, ChainLayer, BTCSecure, Sigma, TerraBay, and Nebula Protocol Show Commitment to Validate New Terra (LUNA) Network.

Initially, the Terra community was majorly in favor of burning Luna to reduce its supply and pump up the price, but Do Kwon’s proposal to create Terra 2.0 took center stage in the end. Do Kwon plans to airdrop the new Luna tokens to holders of Luna Classic once Terra 2.0 is live.

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