Coinbase’s blockchain API and cloud service ceases to support Terra (LUNA). What about Terra 2.0?
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- Coinbase Stops Support for Cloud Terra (LUNA) Infrastructure
- Will Terra 2.0 go live?
Coinbase Cloud, an infrastructure arm of the largest US-based crypto ecosystem, has shared an important announcement for developers and businesses interested in building out the Terra (LUNA) API.
Coinbase Stops Support for Cloud Terra (LUNA) Infrastructure
according to the officer announcement Shared on Coinbase Cloud’s Twitter account, support for Terra’s infrastructure will be discontinued.
1/ By talking with customers and ecosystem participants, we are making a difficult decision to discontinue support for the Terra ecosystem. We are discontinuing support for existing Terra Series and do not plan to support a potential new Terra Series at this time.
— Coinbase Cloud (@CoinbaseCloud) 20 May 2022
According to a statement from the Coinbase Cloud team, the decision was made in consultation with the customers and ecosystem participants behind Terra (LUNA).
Furthermore, amid rumors about a possible spin-off of the Terra (LUNA) protocol with a reconsidered mining policy and adjusted token design, Coinbase Cloud made it clear that it did not add a “potential” new chain to its node stack. Will go
Coinbase Cloud announced that customers and enthusiasts will receive all the support they need on “How to Best Roll Off Terra” with minimal impact on business processes.
Will Terra 2.0 go live?
As previously covered by U.Today, the Terra (LUNA) ecosystem has crashed due to flaws in the token design of its LUNA/UST balance and massive liquidity withdrawals from the Anchor Protocol (ANC).
Both Tera (LUNA) and TeraUSD (UST) fell to near zero; Various Web3 services stopped supporting connections from Terra (LUNA) nodes and closed pairs with LUNA and UST.
TerraForm Labs’ Do Kwon proposed a number of concepts to reinvent the Terra (LUNA) blockchain. However, some Web3 chiefs denied support for their upcoming plans.