Terra Luna Classic LUNC: Network Upgrade
The Terra Classic (LUNC) network upgrade will take place at the Terra Classic block height of 12,902,400, or approximately at 2023-05-23 22:00 (UTC). Deposits and withdrawals for LUNC and USTC via the Terra Classic (LUNC) network will be suspended approximately starting from 2023-05-23 21:30 (UTC).
What is a hardfork?
The cryptocurrency mainnet operates according to certain rules. To improve network performance or correct errors, changes are periodically introduced into it. A hard fork represents changes that are not compatible with previous versions of software supporting the cryptocurrency network. In order to continue to mine the cryptocurrency, miners need to update the software.
In some cases, as a result of a hard fork, a completely new cryptocurrency may appear, as happened with Bitcoin Cash and EthereumPoW.