Stellar Starts Smart Contract Rollout for ‘Soroban’ in Phases.
Implementation of the “Protocol 20” upgrade on the Stellar blockchain has begun, signaling the start of a phased release aimed at bringing Ethereum-like smart contracts into the platform’s payment-focused framework as part of an ongoing initiative called Soroban.
“The Stellar smart contracts tech stack is in a new era,” announced Stellar Development Foundation, one of the most important supporters of the blockchain ecosystem, via its official blog. This follows after validators voted yes to mainnet upgrade.
In a strategic approach, validators plan to gradually increase Soroban transaction limits until it becomes fully operational. This will involve gradual migration from over 160 builders and projects on testnet to mainnet during phase 1. Consequently, by deploying these successfully and subjecting the network to extensive stress-testing as well as satisfaction within its ecosystem, decentralized applications (dApps) get released for widespread use.
Some traders speculate about how this upgrade might breathe new life into lumen tokens popularly known as XLMs. Notably, over the past year, XLM has seen a 21% increase, although this growth pales in comparison to the 67% surge witnessed by the CoinDesk 20 index of major digital assets.
Initially slated for implementation on January 30th, the upgrade, spearheaded by the Stellar Development Foundation’s Tomer Weller, encountered a setback when a bug was discovered in the Stellar Core v20.1.0 software, prompting a prudent decision by developers and validators to postpone the rollout.
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