Kucoin is making the final arrangements for the launch of the latest upgrade of the Terra (LUNA) network On September 30, 2021. They have scheduled it at a block height of 4,724, 000, the time being 03:30:00. Accordingly, they have decided to halt the services of LUNA, which involve deposits and withdrawals, approximately half an hour before the scheduled launch time.
They have told users to note a few important things. To begin with, the existing trading operations of LUNA will work normally while the upgrade takes place. One should not expect new tokens to be issued while the network is being updated.
Terra is known for its functions as a transaction and e-commerce platform and is powered by Stablecoin. This payment network based on blockchain technology has stablecoins interwoven into it and it has its own cryptocurrency named LUNA coin. While LUNA is the main staking token for Terra, there are other stablecoins under Terra’s banner, which are attached with traditional currencies, like TerraUSD, which is linked to the American dollar. Since it uses stablecoins, the Terra platform can ensure that its crypto ecosystem keeps the fees minimal, settles matters easily and instantly, and the cross-border transactions are executed seamlessly. It is predicted that Terra will become the leader of the next generation of decentralized ecommerce applications that use cryptocurrency for transactions.
According to KuCoin review, Kucoin is one of the most popular cryptocurrency exchanges which has made cryptocurrency accessible to everyone- it helps every user- no matter their level of expertise, to contribute to the platform’s growth. Its token mainstay is the Kucoin Token or KCS. In 2019, Kucoin accommodated Terra with both Luna and SDT on its list. Users could use Luna with Bitcoin and the American dollar.