The Stellar Development Foundation (SDF) recently stated that the implementation of smart contracts on the Stellar network will usher in “a new era” for its technology stack.
The Stellar Network Validators successfully implemented the “Protocol 20” upgrade, allowing additional smart contract features and starting the gradual launch of their smart contract platform, called Soroban, according to a statement released by the SDF on February 20.
Rust and WASM (WebAssembly) developers will benefit from a more intuitive development environment thanks to Stellar smart contracts.
Scalability characteristics like independent resource pricing and predictable fees are used by Soroban, a smart contract platform that was originally introduced to the Stellar testnet in October 2022.
According to Stellar, the creation of new decentralized applications (DApps) would be made possible by its ecosystem of smart contracts, enabling developers to create innovative protocols and other apps for the network.
After discovering a Stellar Core problem in January, the SDF decided to postpone the eagerly anticipated smart contract mainnet upgrade. Although the company indicated at the time that there was “little risk” associated with the flaw, after the smart contract platform was released, it might have affected some apps.
In October 2022, the Soroban smart contract platform launched a $100 million funding drive by the SDF to incentivize developers to build on it. The charity that created the Stellar network, the SDF, stated that it has been working with the Stellar community to build smart contract capability over the previous two years.
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