The Mainnet upgrade to Protocol 20 was approved by the Stellar network validators, giving builders a new level of visibility and modernizing the Stellar smart contracts technology stack. For the past two years, the Stellar Development Foundation (SDF) and its community have worked together on the Stellar network. Thousands of lines of code were executed, over 160 projects were put live on the testnet, and a significant amount of XLM was donated to the Stellar Community Fund, which supports Stellar developers, as part of this endeavor.
The Mainnet’s upgrading to Protocol 20 signifies the beginning of a methodical and slow implementation process wherein authenticators agreeing to modify network configurations will be required to progressively improve the capacity for smart contract transactions. This will make it possible to keep an eye on how smart contract features affect the network.
To fully realize the potential of Soroban transactions, the authenticators intend to gradually raise the transaction limitations. For the population that is often ignored, the Stellar network is made to be globally accessible, scalable, and reasonably priced. With Stellar’s smart contracts, developers will have an unparalleled experience where security and affordability are built right into the code.
Developers need to put in some effort to master new languages and platforms to work in the blockchain sector. The two most important factors in Soroban development are safety and convenience of use. To produce safe and quick exposure, it was decided to incorporate WASM and Rust into Soroban’s technological architecture.
For any platform, ensuring efficacy and upgradability is essential. To lower transaction costs and guarantee that platforms can support expansion, swift action is needed. Currently, Soroban engineers are working on these components, such as the price structure and metering that control how individual resources are used.
In the past 10 years, the Stellar ecosystem has been accumulating the required building pieces and has seen a growth of asset providers—both on and off ramps. related to purses that are network-hosted. As of right now, smart contracts will enable dApps to take part in a new inclusive era.
The Stellar ecosystem removes any worries that can arise about developing on an unstable platform because of its extensive exposure.