Stellar Network Developers Announce Major Update with Soroban Smart Contracts
Date: 2023-09-19 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
A Revolutionary Smart Contract Platform
According to the developers, Soroban is a user-friendly smart contract platform based on the Rust programming language. In a recent blog post, Justin Rice, the Vice President of the Stellar Development Foundation ecosystem, described it as "undoubtedly the largest and most complex protocol update to date." The primary preparation steps remain the same – users need to install the latest versions of Stellar-related software. However, this process will require additional steps and may take slightly longer than usual.
Test Network Launch
The test network is scheduled to go live on September 20, 2023, at 18:00 Moscow time. Its nodes must install the latest modifications of Stellar Core and Horizon. Once a stable version is released, developers anticipate that the main network validators will plan a vote on the update. The results will determine the potential final update date.
Justin Rice further explained, "Since Protocol 20 introduces new network settings controlled by validators, it is likely that a series of additional votes will follow the initial vote. This is necessary for adjusting the settings."
Current Stellar Market Status
As of September 19, 2023, the Stellar cryptocurrency (XLM) was trading at $0.118, with a market capitalization exceeding $3.26 billion. This placed it in the 21st position among the top-rated cryptocurrencies. Daily trading volumes for this digital currency reached $53.09 million.
