Stellar Testnet Upgrade for Protocol 20
Stellar is set to release the testnet upgrade of Protocol 20 on September 20. This upgrade is a significant step towards activating the Soroban smart contracts platform on the mainnet. The testnet upgrade will include candidate versions of Stellar Core and Horizon.
Stellar Core is responsible for validating transactions and ensuring the network’s security by keeping validators in sync. On the other hand, Horizon simplifies interaction between applications and developers with the mainnet through APIs, making it easier to deploy applications.
Once the stable version is released, Validators will vote on integrating the tested upgrades into the mainnet. The Protocol 20 upgrade will introduce new settings that require discussion and adjustments through voting before implementation.
Soroban Smart Contracts Platform and Incentives
Soroban is a smart contracts platform designed to work alongside Stellar’s existing blockchain. It offers scalability and sensibility while eliminating serialization loops. Unlike other layer-2 platforms, Soroban fully integrates with Stellar and remains open source.
To encourage adoption of Soroban, the Stellar Development Foundation has launched a $100 million Adoption Fund. This fund supports various programs that promote Soroban adoption at all levels.
XLM Price Performance
The price of XLM has shown resilience and has been one of the top-performing assets in recent months. It experienced a significant surge from $0.08 in June to $0.18 in late July, more than doubling its value. However, it has since retraced by around 40%.
The upcoming testnet upgrade and activation of Soroban may have an impact on XLM’s performance, but its long-term trajectory remains uncertain.
Hot Take: Stellar Prepares for Protocol 20 and Soroban Integration
Stellar is making significant strides towards the activation of its Soroban smart contracts platform with the upcoming testnet upgrade for Protocol 20. This upgrade, along with the integration of Soroban, has the potential to enhance Stellar’s capabilities and attract more users to the network.
With the $100 million Adoption Fund in place, Stellar is actively incentivizing the adoption of Soroban and promoting its integration with the existing blockchain. This could drive further growth and development within the Stellar ecosystem.
As XLM prices continue to fluctuate, it remains to be seen how the market will respond to these advancements. However, Stellar’s commitment to innovation and scalability positions it as a key player in the blockchain industry.
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