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Terraform Restarts Blockchain Behind UST Stablecoin, Luna (1)

May 12, 2022, 7:17 PM

Terraform Labs restarted the Terra blockchain following a software update to help avoid attacks against the network in the wake of the collapse of its algorithmic stablecoin and the related Luna token that had roiled cryptocurrency markets.

The fix is designed to help avoid so-called governance attacks against its protocol -- a way of manipulating the fundamentals of a given blockchain by acquiring enough tokens to force a majority vote.

Following the patch’s release, Terra said earlier that the network would go live again once two-thirds of the voting power belonging to validators came online to finalize the update. In ...