Ethereum

Cardano

DeFi

Bitcoin

Stellar

Stellar Network (XLM) has embarked on a significant evolution with the implementation of the Protocol 20 upgrade on its mainnet. This upgrade signifies a pivotal moment for the blockchain, ushering in a new era of capabilities and functionalities.
Soroban revealed its<a href="https://twitter.com/SorobanOfficial/status/1759996560606159046?s=20" rel="noopener noreferrer nofollow"> launch on social media platform X,</a> marking a significant milestone in the cryptocurrency space.
<h2 id="b-stellar-network-soroban-integration-b">Stellar Network Soroban Integration</h2>
One of the central features introduced by the Protocol 20 upgrade is the integration of Soroban smart contracts capabilities. This integration marks a significant expansion of Stellar’s functionality, positioning it as a formidable contender in the realm of decentralized applications (dApps) and smart contract platforms.
Although it was originally conceived for facilitating seamless payments, Stellar has pivoted towards decentralized finance (DeFi) as a strategic maneuver to compete with established protocols like<a href="https://thecoinrise.com/cardano-ada-holders-love-deestream-dst-as-ripple-xrp-whale-buys-into-presale-mania-for-big-gains/" rel="noopener noreferrer nofollow"> Cardano (ADA) which is riding the Bitcoin wave</a> and Ethereum (ETH).
<h2 id="b-soroban-phased-rollout-b">Soroban Phased Rollout</h2>
The deployment of Soroban smart contracts is being meticulously executed through a phased approach. Currently in Phase 0, the focus is on conducting rigorous stability tests to ensure the reliability of Soroban transactions.
Despite the initial limitations in ledger capacity, Phase 1 promises an augmentation of ledger capacity, thereby enabling applications to undergo testing and deployment on the mainnet. Subsequently, Phase 2 aims to render Soroban fully user-ready while concurrently enhancing scalability for smart contracts.
Although specific timelines for these phases remain undisclosed by the Stellar network, the gradual rollout points to their commitment to delivering a robust and scalable smart contract solution.
<h2 id="b-stellar-xlm-market-price-indices-b">Stellar (XLM) Market Price Indices</h2>
The announcement of Soroban smart contracts has reverberated positively within the market, as evidenced by the<a href="https://thecoinrise.com/stellar-and-cardano-rally-as-investors-pivot-towards-algotech-presale-for-potential-growth/" rel="noopener noreferrer nofollow"> resurgence in the price of Stellar (XLM).</a> At the time of reporting, XLM is trading at $0.1149, reflecting a notable 3.3% increase over the past 24 hours.
This upward trajectory demonstrates investor confidence in Stellar’s strategic evolution and its potential to carve a niche in the growing DeFi landscape.
With the Protocol 20 upgrade, analysts suggest that the<a href="https://thecoinrise.com/chainlink-and-stellar-xlm-rise-nuggetrush-draws-investor-interest-following-exceptional-presale-outcomes/" rel="noopener noreferrer nofollow"> rapid transaction speeds of Stellar could entice developers</a> from leading alternative cryptocurrencies to join its network, potentially resulting in an increase in XLM due to heightened network activity.
The post <a href="https://thecoinrise.com/stellar-network-enables-soroban-smart-contracts-on-mainnet/" rel="noopener noreferrer nofollow">Stellar Network Enables Soroban Smart Contracts on Mainnet</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Stellar Network Enables Soroban Smart Contracts on Mainnet

Table of Contents

TheCoinrise Media

Other articles published on Feb 21, 2024

Ethereum Faces Sharp Rejection Near $3,000 As Profit-Taking Sentiment Rises! What’s Next For ETH ...

Ethereum (ETH) Price Reaches $3,000 After Two Years, More Excitement To Come?

3 Reasons Behind Bitcoin’s Surge Over $52,000; Bullish Outlook for Injective & Monero Rival

BNB Chain Provides Definitive 2024 Guide with “BNB Chain & the Web3 Blueprint” Brand Story (21 Feb)

Turkey Accelerates Crypto Regulation Efforts for Investor Protection

BitMEX Former CEO Likened This Altcoin in the Top 10 to a "Shit Coin" and Explained the Reason!

Join our free newsletter for daily crypto updates!