Stellar Prepares for a New Era with Smart Contract Upgrade
Stellar (XLM), a leading blockchain network known for its cross-border transaction capabilities, is gearing up for a significant milestone with the introduction of smart contracts through the Protocol 20 upgrade. As the network prepares for this upgrade, the focus is on the validators who will determine the future of Stellar.
The Road to Stellar Protocol 20 Upgrade
Recently, the Stellar Development Foundation announced the availability of software supporting Protocol 20, signaling that all technical requirements for the upgrade are in place. Now, it’s up to the validators to cast their votes and determine the next steps for Stellar.
- The release of Protocol 20 represents a crucial achievement in enhancing the capabilities and opportunities within the Stellar ecosystem.
- This upgrade enables Soroban smart contracts to be integrated into the network, unlocking innovative possibilities for developers and users.
- If the vote passes, a phased approach will be taken to responsibly implement the upgrade while monitoring its impact on performance and security.
Impact on XLM and the Stellar Ecosystem
The impending Protocol 20 upgrade has generated renewed interest in XLM, Stellar’s native token.
- XLM is currently trading at $0.1195, reflecting a 2.5% increase in the past 24 hours and an 8% rise over the previous week.
- With a circulating supply of 28 billion XLM, Stellar holds a market capitalization of approximately $3.4 billion.
- The anticipation of smart contract functionality joining Stellar’s ecosystem has contributed to increased utility and demand for XLM.
Hot Take: A Promising Future for Stellar
As the vote for the Protocol 20 upgrade approaches, Stellar is on the brink of a new era filled with potential. If the validators support the upgrade, Stellar will be able to support innovation and open up exciting opportunities for developers and users alike. With the market already showing anticipation through an increase in XLM’s value, it’s clear that the crypto community is eagerly awaiting the implementation of smart contracts on the Stellar network.
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