Blockchain-based payment platform Stellar (XLM) is setting the stage for its most ambitious protocol update ever. Dubbed "Protocol 20 Upgrade," this overhaul will integrate Soroban's smart contract capabilities into the Stellar ecosystem.
An Upgrade in the Making
The much-anticipated Soroban smart contract feature will roll out on Stellar's testnet on September 20 at 3:00 p.m. UTC. According to an announcement from Soroban, their Futurenet will remain unaffected during this test phase. Stellar's testnet is also slated to introduce release candidate versions of Stellar Core and Horizon simultaneously. The new network settings under Protocol 20 will initially undergo a validation vote, potentially followed by additional voting rounds for fine-tuning.
What's Next and Public Reception
Mainnet validators are projected to schedule the upgrade vote approximately six weeks after the stable releases are available, although the specific date is yet to be confirmed. Meanwhile, Stellar has pledged to keep the community updated with voting timelines and any new release dates. Stellar made waves recently with a flashy teaser featuring British actor Idris Elba and unveiled a rebranded website. They also launched "Decentralife," a series focusing on impactful real-world applications of blockchain technology.
Despite the buzz surrounding the monumental upgrade, Stellar's token, XLM, has shown modest gains, rising by 1.40% to $0.119 in the last 24 hours, reflecting a broader uptrend in the crypto market.