Stellar Prepares for Major Protocol 20 Upgrade Soroban Smart Contracts on the Horizon

Stellar Prepares for Major Protocol 20 Upgrade: Soroban Smart Contracts on the Horizon

In the ever-evolving landscape of blockchain technology, Stellar, the decentralized public blockchain, is gearing up for its most substantial upgrade to date. Protocol 20 is on the horizon, promising a groundbreaking introduction—Soroban smart contracts.

Protocol 20 Upgrade Guide

The Countdown Begins

Stellar recently sent ripples across the blockchain sphere with its announcement of the imminent Protocol 20 upgrade. Described as the most extensive and intricate protocol upgrade to date, it’s poised to usher in a new era of possibilities for developers and businesses alike.

The message from Stellar is clear: it’s time for developers and businesses to prepare for this transformative upgrade. Installing the latest Stellar software is the first crucial step to ensuring a seamless transition.

Testnet Upgrade

The testnet, a crucial testing ground for any blockchain upgrade, is set to undergo the Protocol 20 transformation on September 20 at 15:00 UTC. During this phase, expect to witness newer updates of Stellar Core and Horizon—the very backbone of the Stellar network.

A Voting Process

Stellar validators will play a pivotal role in this upgrade journey. Once the testnet upgrade demonstrates its prowess, validators will open the floor to upgrade votes, a process slated to span six weeks. This period will see the testnet release of Protocol 20, with a keen focus on tracking and tracing network performance in tandem with the implementation of Soroban smart contracts.

Soroban: Unleashing Possibilities

Soroban is more than just a name; it’s an advanced smart contract infrastructure perched atop the Stellar network. This groundbreaking addition augments the Stellar network’s capabilities by paving the way for a flourishing ecosystem of decentralized applications (dApps).

Fine-Tuning for Success

As with any monumental upgrade, fine-tuning becomes a necessity. The Protocol 20 upgrade will introduce new network settings under the control of validators. Subsequently, the initial upgrade vote is likely to be followed by a series of additional votes aimed at adjusting these settings, ensuring a harmonious and efficient network.

Stellar’s Competitive Edge

In a fiercely competitive blockchain arena, the Stellar Foundation is leaving no stone unturned. As part of its ongoing efforts, it recently made waves by enlisting the support of British actor Idris Elba to champion the Stellar blockchain network. This move underlines Stellar’s commitment to standing tall amidst the blockchain giants.

Prepare to witness the dawning of a new era as Stellar embarks on its journey toward Protocol 20, where Soroban smart contracts promise to reshape the blockchain landscape.