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Users of the Block Entropy app will be able to generate AI images on the Terra Classic chain by entering a few descriptive words. The Terra Classic blockchain has attracted significant DeFi developments with a total value locked (TVL) of approximately $2,595,574.
The core developers of Terra Classic (LUNC) have made great progress over the past year to allow the underlying blockchain to compete with other top-layer blockchains. Amid the boom in artificial intelligence (AI), which has seen chipmaker Nvidia reach a $1 trillion valuation, Terra Classic’s developers have been working to take advantage of the emerging technology.
Professor Edward Kim, a well-decorated Terra core developer, has been working on a chain of AI applications called Block Entropy. The development of Block Entropy has excited the Terra community due to the large potential use cases presented.
For example, Vietnam-based blockchain developer Vinh Nguyen recently showed a screenshot of the Block Entropy interface, highlighting how the AI application generated a cat image.
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I just generated a cat image on block entropy, the first AI generation engine powered by blockchain. This cat is coming in #ALLUT history as the first generation. I will open the NFT sale later.
to burn #ALLUTfulfill your duty pic.twitter.com/bRsXtKYRfh
— ️The Vinh Nguyen⚛️🇻🇳 (@TheVinhNguyen4) May 30, 2023
Using Block Entropy to expand the Terra Classic use case will increase the burn rate of LUNCs, which has a positive impact on the underlying value. Additionally, the AI Block Entropy app will increase Terra Classic’s chain activity, which in turn doubles the overall burn rate.
In particular, the use of Block Entropy to improve art creation is revolutionary on the Terra Classic blockchain. After developers release the AI app to the public, users can request a generated image by using a few descriptive words.
Here’s a look at it #ALLUT‘Yes #Cryptothe exciting new use case of! #LuncBurn pic.twitter.com/LIBtCSnQbv
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— 🔥LuncBurnArmy🔥 (@luncburnarmy) May 31, 2023
Impact on Terra Classic market prospects
The Terra Luna Classic community has remained focused on future growth prospects despite the former chain’s collapse last year. Terra Luna Classic currently has a market cap of approximately $493,725,640 and a 24 hour trading volume of approximately $15 million. The Terra Classic blockchain has attracted significant DeFi developments with a total value locked (TVL) of approximately $2,595,574.
Some of the notable decentralized applications on the Terra Classic chain include the DEXs TerraSwap and Astroport with TVLs of around $1.6M and $823K respectively. The release of the Block Entropy AI application will have a direct positive impact on DEX platforms based on Terra Classic. Additionally, more chain activity is expected to be recorded on the Terra Classic chain after the launch of the Block Entropy AI application.
The use of NFTs has grown exponentially significantly thanks to the development of metaverse and other GamiFi projects in recent years. The game industry from the Web2 industry is making a slow transition to the Web3 market to capture customers economically.
According to Terra Kim, the AI Block Entropy app is designed to accelerate the write speed of LUNCs to the kernel.
To get tokens from TestNet, you will need to send real LUNC to the recording address and enter the tx hash into the TestNet faucet. This is a burnt tap appetizer. pic.twitter.com/oDyjWpksyX
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— Edward Kim (@edk208) April 29, 2023
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