No. Lantern's goal is to never reset the world. It is built as a long-term, permanent place where your builds and progress last.
What happens after Minecraft updates?
When an update adds new biomes, structures, or terrain generation, the world border can expand so fresh areas generate with the new content. Existing towns, bases, inventories, and player history stay in place.
Read the world border guide for the current dimensions.
Lantern's commitment
Nobody can predict every possible future scenario, but there are no plans to reset the world. The intention is to keep expanding it so you can build with confidence.