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Com2us ditches Terra blockchain after UST price crash Korean gaming firm is considering switching into new mainnet or building its own one

Translated by Ryu Ho-joung 공개 2022-05-17 08:02:06

이 기사는 2022년 05월 17일 08:01 더벨 유료페이지에 표출된 기사입니다.

C2X, the blockchain platform built by South Korean gaming firm Com2us in partnership with Terraform Labs, has decided to change its mainnet after the collapse of Terra's stablecoin TerraUSD (UST) and its sister token LUNA paralyzed the Terra blockchain network.

“We have decided to switch our Mainnet into another one and are promptly considering alternatives,” C2X said in an announcement on May 13. The decision was made because Terra’s mainnet stopped creating new blocks, the announcement said, adding they “are regretful that such event has happened.”

A mainnet is an independent blockchain running on its own network with its own protocol. It can be used to send and receive cryptocurrency transactions that require that specific blockchain protocol.

C2X’s decision to change its mainnet followed the recent price crash of Terra's algorithmic stablecoin UST. Terra's stablecoin – which is meant to maintain a 1-to-1 peg with the US dollar – was depegged from the USD after significant investors began to dump it. This resulted in a free fall in the prices of UST and its linked LUNA token, causing some of the major cryptocurrency exchanges to delist them last week.

Other blockchain networks that could serve as C2X’s new mainnet include Klaytn, Solana and Ethereum. Klaytn, a public blockchain platform developed by Kakao Corp, is partnering with several major gaming firms seeking to expand into the play-to-earn (P2E) game market, such as Netmarble and Neowiz.

One of Klaytn’s advantages over other blockchain networks was a fixed gas fee, which is a transaction fee required for a network user to conduct a transaction on the network. This compares to Ethereum’s fluctuating gas fees. However, Klaytn recently announced a roughly 30-fold gas fee increase starting April, reducing its attractiveness to potential users.

Solana, which is used by game developer Krafton, is known for its fast transaction speeds. One of the key features of Solana is its proof-of-history consensus algorithm, which allows the blockchain network to process transactions faster than other platforms.

Building new mainnet is unlikely

C2X also said in the announcement that it was considering “establishing our own mainnet and sidechains.” This, if realized, would mean Com2us is taking a step similar to WeMade, which recently announced plans to discontinue its partnership with Klaytn and build its own mainnet called WEMIX 3.0.

WEMIX 3.0 has a similar structure to that of the Terra project, with the new blockchain network designed to operate with its stablecoin WEMIX Dollar and WEMIX coins. However, following the Terra crisis, WeMade may reconsider its plan to launch WEMIX 3.0, observers said.

Many industry experts expect C2X to switch into another existing mainnet, rather than creating its own one, because Com2us may not want to delay the launch of its blockchain games.

Com2us is set to add blockchain technology to its existing game “Baseball Superstars” in the second quarter. Its upcoming games such as “Dear, Ella” and “The Walking Dead: All-Stars” will be also released as blockchain games. (Reporting by Hyun-ji Sohn)
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