This ligation of the thiolate to the iron center anchors the ACV within the active site.
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It was first identified in the minus strand of the tobacco ringspot virus (TRSV) satellite RNA where it catalyzes self-cleavage and joining (ligation) reactions to process the products of rolling circle virus replication into linear and circular satellite RNA molecules.
In the 1990s, Stephen Kent and coworkers at The Scripps Research Institute independently developed "Native Chemical Ligation", the first practical method to ligate large unprotected peptide fragments.