As an experienced analyst, I am closely following the developments within the Stellar (XLM) ecosystem and am excited about the recent progress towards activating Protocol 21 on their network. Having witnessed the successful implementation of Soroban smart contracts with the previous upgrade to Protocol 20 in February 2024, I have confidence that the Stellar team’s commitment to improving network efficiency and reducing fees will continue to be a driving force behind this project.
Recently, Stellar (XLM) achieved an important achievement by implementing Protocol 21 in its testnet. This event signifies a crucial step forward for the Stellar network as we approach the activation of this upgrade on the mainnet.
Starting on June 18, 2024, Stellar network validators will cast their votes in a referendum regarding the implementation of Protocol 21. If this proposal is endorsed, it will trigger the activation of five new Core Advancement plans on the Stellar Mainnet.
The Stellar Testnet has undergone an upgrade, transitioning to Protocol 21. Here’s a rundown of upcoming events:
— Stellar (@StellarOrg) May 14, 2024
Five newly introduced CAPs come with enhanced capabilities, including passkey signing integration, an upgraded state archive, and cost-effective enhancements for executing smart contracts.
Expert: Stellar remains dedicated to enhancing network effectiveness and lowering transaction fees. The Stellar network aspires to ensure equal opportunities for engagement in the global financial system and upcoming features, such as CAPs 0054, 0055, and 0056, which will be introduced with protocol 21 update. These enhancements are designed to maintain the affordability and accessibility of the Stellar network for all users.
On February 20, 2024, validators made the decision to advance Stellar’s protocol to version 20. This significant update introduced Soroban smart contracts to Stellar’s main public network. Consequently, developers across the globe have been able to successfully implement smart contracts on Stellar Mainnet since then.
Here’s what comes next
As a crypto investor, I’m excited about the recent development of Protocol 21 going live on the testnet. However, my attention now turns to the crucial next steps: getting ready for its implementation on the mainnet. This is a significant phase that demands meticulous planning and thorough testing to guarantee a seamless transition.
After being deployed on the mainnet, Protocol 21 brings forth enhanced scalability and features for Stellar’s network. With the testnet upgrade now active, important dates have been revised to align with this update, while Protocol 21 release links now display version numbers representing the minimum required versions.
The key dates following the testnet upgrade include:
– May 30: Stable releases of Stellar Core, Horizon, RPC.
– June 11: Testnet reset to ensure all new implementations perform optimally.
On June 18, there will be a vote to advance the mainnet to Protocol 21. These kinds of updates are automated as they are routine elements of our consensus process. If this proposal is endorsed, the modification will automatically go into effect.
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2024-05-15 17:34