HomeNewsRipple Rival Stellar (XLM) Shines Bright: Protocol 20 Upgrade Promises Game-Changing Ecosystem...

Ripple Rival Stellar (XLM) Shines Bright: Protocol 20 Upgrade Promises Game-Changing Ecosystem Improvements

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  • Stellar’s Testnet set to support Soroban smart contracts on September 20, 1500 UTC.
  • Protocol 20 upgrade promises to be the network’s most intricate overhaul yet.

The Dawning of Soroban on Stellar’s Horizon

In a groundbreaking move, Stellar is all set to integrate Soroban smart contract support into its Testnet on September 20, 1500 UTC. Termed as the most sophisticated protocol update in the Stellar network’s history, Protocol 20 is not just about integration; it’s a substantial upgrade.

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The intricacy of this protocol transformation goes beyond the usual. While the foundational preparatory steps remain similar, such as ensuring all Stellar-associated software is up-to-date, this particular upgrade will necessitate a slightly more extended and involved approach.

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Why is This Upgrade Different?

As part of Protocol 20’s introduction, new network configurations under the validators’ control will be launched. This not only means an initial upgrade vote, but a potential succession of votes might follow to finetune these settings. The Stellar community aims for utmost transparency during this phase, promising regular updates on timelines, releases, and any other crucial information.

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So, what’s immediate on the checklist for those diving into the Testnet upgrade? Upgrading to the latest SDK version is paramount. Even if one’s application doesn’t lean on Soroban features, this upgrade ensures smooth decoding of Soroban-centric operations. For those steering the Testnet infrastructure, updating versions of Horizon and Stellar Core is crucial.

While the Testnet upgrade is fixed for September 20, the Mainnet validators’ upgrade vote date remains tentative. It will likely be pinned for about six weeks post the stable releases. Again, the Stellar community commits to prompt updates on any such significant dates or timelines.

To foster collaboration, communication, and clarity, a dedicated #protocol-20 channel has been flagged off. This platform is the hub where the Stellar ecosystem is synchronizing efforts and disseminating vital details regarding the upgrade.

While the Stellar community buzzes with the Protocol 20 advancements, the broader crypto space isn’t left behind. Noted global macro investor, Raoul Pal, shines a light on the current cryptocurrency landscape. Despite a seeming lull, crypto has surged 50-100% this year, albeit the enthusiasm appears dampened due to the market’s plateau since April.

Central banks’ potential shifts in 2024, Solana’s remarkable blockchain integration into Visa’s program, and its price dynamics are other pivotal narratives shaping the crypto space. As the industry evolves, these stories, intertwined with technological advancements like Stellar’s Protocol 20, continue to script the future of digital finance.

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Collin Brown
Collin Brown
Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
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