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Market News

Stellar To Support Soroban Smart Contracts With Protocol 20 Upgrade

Tesnet will be upgraded on September 20 prior to mainnet release after an upgrade vote from Stellar network validators.

Written By Gopal Solanky
Published September 19, 2023 11:43 AM
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Stellar Delays Protocol 20 Upgrade After Bug Found

Steller, a decentralized public blockchain, is nearing the Protocol 20 upgrade, which will introduce Soroban smart contract support on its network. 

Described as the biggest and most complex protocol upgrade tp date, the company has suggested developers and businesses to prepare by installing up-to-date Stellar software.

Prepare for #Stellar’s Protocol 20 upgrade! It’s the biggest one yet, introducing Soroban smart contracts.

Things to know:
1. Testnet upgrade on Sep 20, 1500 UTC
2. Update Stellar-related software
3. Stay updated in the (#protocol-20) discord channel
4. Go here for more info…

— Stellar (@StellarOrg) September 18, 2023

According to the official announcement, the testnet will upgrade on September 20 at 15:00 UTC to release newer updates of Stellar Core and Horizon, the infrastructure of Stellar network. 

Stellar validators will open upgrade votes for six weeks once the testnet upgrade reaches ideal output. The testnet release of the Protocol 20 upgrade will track and trace network performance with the implementation of Soroban smart contracts. 

Soroban is a smart contract infrastructure built on top of Stellar. It advances the Stellar network’s capabilities by enabling an ecosystem of decentralized applications. 

“Because the Protocol 20 upgrade introduces new network settings that validators control, it is also likely that the initial upgrade vote will be followed by a series of additional votes to adjust those settings,” said the blog post. 

The Stellar Foundation has increased its development efforts to sustain itself in the highly competitive blockchain space. It recently onboarded British actor Idris Elba to advertise Stellar blockchain network. 

Also read: Apecoin Proposes ‘Sister DAO’ Community Vault For Buying NFTs

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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