Stellar is gearing up for its largest network upgrade to date, the Protocol 20 upgrade, which will introduce Soroban smart contracts to the mainnet. The testnet for the upgrade is set to be activated on September 20 at 15:00 UTC. This upgrade is expected to benefit developers and businesses building on Stellar.
Introducing Soroban Smart Contracts
Soroban is a developer-friendly smart contracts platform that is based on Rust and designed to integrate with the Stellar blockchain.
“It’s by far the biggest, most complex protocol upgrade to date, and so while the basic instructions to prepare are the same as ever — install up-to-date versions of any Stellar-related software you use! — the process will take a few extra steps and play out a bit slower than usual,” said Justin Rice, VP of Ecosystem at the Stellar Development Foundation.
Once the stable release is out, the mainnet validators will schedule an upgrade vote to determine the potential date for the public network upgrade.
XLM Price Outlook
The price of Stellar’s native token, XLM, is currently around $0.11. Although it has seen a 7.5% decrease in the past week, it is showing signs of upside momentum after recent declines. XLM is currently approaching a key support level of $0.10, with resistance likely at year-to-date highs around $0.16.
What is the Protocol 20 upgrade?
The Protocol 20 upgrade is a major network upgrade for Stellar, introducing Soroban smart contracts to the mainnet.
When will the testnet for Protocol 20 be activated?
The testnet for Protocol 20 will be activated on September 20 at 15:00 UTC.
How will the upgrade benefit developers and businesses on Stellar?
The upgrade will provide developers and businesses with the ability to utilize Soroban smart contracts on the Stellar blockchain, opening up new opportunities for innovation and functionality.
What is Soroban?
Soroban is a developer-friendly smart contracts platform that integrates with the Stellar blockchain. It is based on the Rust programming language.
What is the current price of XLM?
The current price of XLM is approximately $0.11.
What are the price projections for XLM?
XLM is currently approaching a key support level of $0.10, with resistance likely at year-to-date highs around $0.16.