As an analyst with a background in blockchain technology and experience in following the Stellar network, I’m excited about the recent upgrade to Protocol 21 on the Stellar testnet. This development marks an important step forward for Stellar as it moves towards becoming a more feature-rich platform.
The Stellar testing platform has successfully implemented an update to Protocol 21. This modification introduces novel functionalities including passkey signing and enhanced state archiving capabilities.
After the prosperous debut of Stellar’s smart contract platform, Soroban, in February 2024, an upgrade, referred to as Protocol 21, ensued. This progression signifies Stellar’s advancement towards a more robust and feature-rich platform.
Announcement: The Stellar Testnet has been advanced to Stellar Protocol 21. Here’s what follows next:
— Stellar (@StellarOrg) May 14, 2024
On May 30th, Stellar is expected to unveil the stable editions of its foundational software. Following this, a testnet reset is scheduled for June 11th to ensure all systems are functioning optimally. Lastly, on June 18th, Stellar network validators will convene to determine if Protocol 21 will be deployed on the mainnet.
As an analyst, I believe that the price of Stellar (XLM) is poised for a significant increase following the upcoming upgrade. This upgrade holds great significance as XLM will play a pivotal role in the advancement of Decentralized Finance (DeFi) on the Stellar network. While it’s impossible to predict the exact long-term price implications, the growth potential is undeniable.
According to the current market conditions, XLM is priced at $0.1027, representing a 1.7% decrease in value over the past 24 hours.
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2024-05-15 01:41