Proposal 12033 mandates Know Your Customer (KYC) processes for all L1 developers; the Terra Luna Classic (LUNC) community has unanimously accepted and backed it, marking a revolutionary decision.
Terra Luna Classic has reached a turning point with the unanimous support of the LUNC community for Proposal 12033.
Driven by the SolidVote LUNC Validator, the proposal represents a concerted effort to enhance blockchain ecosystem security. Having all Level 1 (L1) developers adhere to Know Your Customer (KYC) protocols is a crucial part of the plan.
It was previously possible to create code on the chain without responsibility due to the lack of KYC requirements, which might have been harmful to the ecosystem as a whole.
In support of this proposition, the requisite Know Your Customer (KYC) protocols are implemented for each L1 developer, thereby reducing the likelihood of unauthorized ingresses and strengthening the blockchain’s overall security.
Since there are no know-your-customer checks in place, anyone may add code to the Terra Luna Classic blockchain without revealing their identity.
Because of this anonymity flaw, the ecosystem is susceptible to possible harmful actions like the introduction of malware, such as Trojans, which might infect the whole network.
In order to close this loophole and ensure that only verified developers contribute to the source, the community has just supported a proposal.
Terra Luna Classic hopes to create a safer and more open community by requiring KYC requirements. By strictly following these security protocols, the blockchain will be compliant with all applicable regulations and will gain the confidence of both users and programmers.
A prominent member of the LUNC community, ‘Mr.Diamondhandz1’ used the X post to emphasize the importance of the passage of Proposal 12033.
Measures to strengthen the security and dependability of the Terra Luna Classic blockchain have broad community support, as his endorsement shows.
Security is of the utmost significance in the ever-changing blockchain world, and the community’s strong support for the idea shows that.
‘Mr.Diamondhandz1’ highlighted the initiative of the proposal, saying that it does more than just fix current security holes; it also establishes a standard for safe and responsible development in the Terra Luna Classic ecosystem.
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