Changpeng Zhao Believes Terra Hard Fork is Useless

According to Binance CEO Changpeng Zhao, a hard fork of the Terra blockchain with a rollback of the network to the time before the collapse of LUNA and UST will not work, because the new chain will not have any value.

The project community suggested a hard fork and issue a new token after the collapse of the Terra ecosystem. The distribution of the token can be carried out according to a snapshot of the network made before the market crash.

The initiative also provides for a new mechanism for organizing the blockchain and creating a pool to redeem the algorithmic stablecoin UST.

Zhao has earlier said that he is “disappointed” with the actions of the Terra ecosystem team. In his opinion, the developers endangered investors, but did not take responsibility.