Soroban Smart Contract Platform Launched on Stellar Network
The Soroban smart contract platform has been introduced on the Stellar network, enabling the full functionality of smart contracts on this platform. Additionally, a $100 million adoption fund has been established to support the growth and acceptance of Soroban. Dive into the details below.
Soroban Development Foundation (SDF) Launches on Stellar Network
– The launch of Soroban Development Foundation (SDF) on the Stellar network is a significant milestone for the project, focusing on payments.
– After two years of testing, phase 2 of Soroban mainnet is now live, allowing the creation of user-ready decentralized applications.
– Developers now have access to a new tool offered by Soroban to implement smart contracts and expand applications built on the Stellar blockchain.
– Soroban utilizes WebAssembly (WASM), a custom binary code format suitable for web and blockchain integrations.
– Smart contracts introduced by Stellar aim to broaden the network’s utility beyond cryptocurrency payments, including DeFi and other financial services.
Stellar Evolution: From Inception to Revolution
– Founded in 2014 by Jed McCaleb and Joyce Kim, Stellar started as an open-source blockchain network focusing on cross-border transactions.
– Initially a Ripple fork, Stellar faced challenges and opted for a unique solution by introducing SCP as its new consensus mechanism.
– While supporting smart contracts in the past, Stellar’s primary focus has shifted towards developing Soroban, a platform offering an accessible approach to high-performance dapps development.
Stellar Price Analysis
– Following a period of steady growth, Stellar’s price has slightly decreased, approaching around $0.1620 against the US dollar.
– The XLM/USD pair is currently trading below $0.1400 support, testing $0.1240 levels.
– A recent minimum was noted around $0.1241 with potential for upward movement testing resistance at $0.12030.
– The current price hovers around $0.140 with resistance near $0.1325; a breakthrough could push it towards $0.1440 and potentially beyond.
– Support levels include $0.1240 initially with major support near $0.1150; further decline might test $0.1040 levels.
Hot Take: Exciting Developments in Stellar Ecosystem!
The launch of Soroban on the Stellar network marks a significant advancement in smart contract capabilities within the ecosystem. With a dedicated adoption fund in place, the platform is poised for growth and innovation across various applications.
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