Ethereum

New Era

Cardano

Solana

Stellar

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Stellar (XLM) has entered a new era in its evolution following the&nbsp;<a href="https://twitter.com/SorobanOfficial/status/1759996560606159046?s=20" rel="noopener noreferrer nofollow">launch</a> of the Protocol 20 upgrade on the mainnet. With this new upgrade, Soroban smart contracts capabilities are now enabled, pitching Stellar as a blockchain that can host smart contracts and decentralized applications (dApps).</p>
<h2 id="stellar-soroban-onboarding">Stellar Soroban onboarding</h2>
<p dir="ltr">Stellar started as a blockchain tailored for payments and, since its inception, it has advanced its reach across the board with this new feature set to establish its influence in the decentralized finance (DeFi) ecosystem. With the evolution of blockchain and Web3, this pivot is crucial and might make Stellar capture a bigger part of the crypto market currently&nbsp;<a href="https://u.today/cardano-just-achieved-major-milestone-in-defi-space" rel="noopener noreferrer nofollow">dominated</a> by protocols like Cardano (ADA).</p>
<p dir="ltr">The Stellar Network described the&nbsp;<a href="https://u.today/stellar-xlm-teases-its-most-important-upgrade-see-what-will-change" rel="noopener noreferrer nofollow">Protocol 20</a> emergence as the most transformative upgrade that has ever been implemented on the blockchain. Notably, the Soroban smart contract capabilities have not been completely rolled out yet, as this will be done in phases ranging from 0 to 2.</p>
<p dir="ltr">The rollout is currently in Phase 0, marked by stability testing. At Phase 0, the ledger capacity for Soroban transactions starts low and will soon be increased in Phase 1, where applications can begin deploying and testing on mainnet.</p>
<p dir="ltr">In Phase 2 of the Soroban rollout, it will become user-ready and smart contracts capacity will continually be increased to boost its scalability. The Stellar network, however, did not unveil the timeline for the release of these phases.</p>
<h2 id="stellar-xlm-price-in-mix">Stellar (XLM) price in mix</h2>
<p dir="ltr">The price of Stellar is on a rebound path following the news of the Soroban smart contracts capabilities. At the time of writing, the price of XLM was changing hands at $0.1149,&nbsp;<a href="https://coinmarketcap.com/currencies/stellar/" rel="noopener noreferrer nofollow">up by 3.3%</a> in the past 24 hours.&nbsp;</p>
<p>Investors are largely scampering toward the coin, as showcased in the 20% boost in trading volume to $119,262,381. The projection is that with smart contract enablement, XLM will find more ingrained use cases and start competing with other assets like Ethereum (ETH) and Solana (SOL), both of which are on a&nbsp;<a href="https://u.today/surprisingly-bullish-ethereum-whale-makes-unexpected-move-on-btc-stash" rel="noopener noreferrer nofollow">massive run at this time</a>.</p>

Stellar (XLM) Enters New Era With Protocol 20 Upgrade, Here's What Changed

Table of Contents

U_Today

Other articles published on Feb 21, 2024

John Deaton, pro-XRP lawyer, announces Senate run against Elizabeth Warren

Will XRP react to Ripple’s new report on Blockchain in payments

These 2 Meme Coins Defy Market Correction – Will They Lead the Next Cycle?

Race Heats Up in the Expanding Crypto Market

Analysts Predict Scorpion Casino to Give 100x Gains instead of Bitcoin Minetrix in the Next Crypt...

Spot ETFs Transform Bitcoin Trading Landscape: US Exchanges Take Center Stage

Join our free newsletter for daily crypto updates!