#Stellar is a blockchain platform whose native currency, $XLM is meant to support rapid and low-cost cross-border transactions, and it will deploy the testnet update of Protocol 20 on September 20. This release is a step towards activating the mainnet of the Soroban smart contracts platform, which will be the ultimate goal of the protocol's development.
Smart Contracts And Protocol 20 Are Next For Stellar
Stellar Core and Horizon release candidates are planned for the testnet upgrade, as stated in a whitepaper published on September 18. Stellar is a blockchain network that relies on its distributed network of nodes to verify transactions and keep the system safe. Stellar Core is the central nervous system of the network, ensuring that all validators on the network are in sync and working together to maintain the security of the blockchain.
Stellar Horizon is a portal that streamlines developers' and programmers' use of the mainnet's application programming interfaces. Horizon simplifies application deployment by doing away with the hassles of communicating with the blockchain.
When the final version has been released, Validators will cast a vote to determine when the stable version will be upgraded to. The blockchain creator has admitted that the update to Protocol 20 would include new settings that will call for more deliberation and vote to adapt. Before releasing these modifications to the mainnet, the Stellar Network will establish a timeframe for their implementation.
The Soroban Bonus of $100 Million
Soroban "integrates with and functions alongside the existing Stellar blockchain," according to Stellar's description of the smart contracts platform. Futurenet, Stellar's testnet, is where the gateway is being tried out right now.
Stellar believes its smart contracts are preferable because the network has reduced "pesky serialisation loops" with features like multi-core scalability and an improved cost mechanism. Soroban, in contrast to Ethereum layer-2 platforms like Arbitrum and Polygon, will be completely integrated with Stellar and will continue to be open source.
To encourage Soroban adoption, Stellar Development Foundation established an Adoption Fund of a hundred million dollars. They described it as a "umbrella for several programmes that assist various levels of Soroban adoption," some of which have already debuted while others are still in the planning stages.
Among the best-performing investments over the previous three months, XLM has maintained very stable pricing. As an example, the coin's value quadrupled from $0.08 in June to $0.18 by the end of July.
Since then, though, the currency has reversed course and dropped by about 40%. The daily candlestick pattern, however, indicates that the uptrend is still in effect. It has not yet been decided whether or not XLM will be compatible with this update.