Stellar Rolls Out Smart Contracts Post Bug Fix Delays: A New Era for Programmability
The Stellar blockchain has embarked on a transformative journey with its “Protocol 20” upgrade, a phased rollout that introduces Ethereum-style smart contracts under the highly anticipated Soroban project. Following a bug fix delay, the Stellar Development Foundation (SDF) confirmed the commencement of a new era for Stellar’s smart contracts technology stack, signaling a pivotal moment in the platform’s evolution.
Originally slated for implementation on January 30, the upgrade faced setbacks when a bug was uncovered in the Stellar Core v20.1.0 software just days before the scheduled date. In response, developers and validators decided to postpone the rollout, prioritizing the resolution of the bug to ensure a smooth transition to the enhanced protocol.
The Soroban project represents a significant milestone for Stellar, a blockchain platform that originated as a fork of the Ripple protocol in 2014. With this upgrade, Stellar aims to incorporate the programmability features synonymous with Ethereum’s smart contracts, expanding the platform’s capabilities and opening new avenues for decentralized applications (dApps) and innovative use cases.
According to insights shared by the Stellar Development Foundation, validators are progressively increasing limits for Soroban transactions as part of the phased rollout strategy. As capacity expands and the network undergoes stress-testing, developers and projects currently building on the testnet will transition to the mainnet, paving the way for the deployment of dApps and broader adoption.
The introduction of smart contracts on Stellar has ignited speculation among traders and cryptocurrency enthusiasts regarding the potential impact on the platform’s native token, XLM, also known as “lumens.” Over the past year, XLM has demonstrated a modest gain of 21%, trailing behind the robust performance of other large-cap digital assets featured in the CoinDesk 20 index, which registered a 67% increase.
Tomer Weller, spearheading the upgrade under the auspices of the Stellar Development Foundation, underscores the significance of the Soroban project in enhancing Stellar’s functionality and competitiveness in the blockchain ecosystem. With the deployment of smart contracts, Stellar aims to foster innovation, drive adoption, and empower developers to build decentralized solutions that leverage the platform’s robust infrastructure.
As Stellar embraces the future of blockchain technology with smart contracts, the community anticipates a resurgence of interest and activity within the ecosystem. The rollout represents a pivotal moment in Stellar’s journey, highlighting the platform’s commitment to continuous improvement and its vision for a decentralized, programmable future.
In conclusion, Stellar’s implementation of smart contracts post bug fix delays marks a significant milestone for the platform and the broader blockchain industry. As the ecosystem evolves and embraces new capabilities, stakeholders stand poised to explore the boundless possibilities enabled by decentralized finance, decentralized applications, and the democratization of digital assets on the Stellar blockchain.