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Stellar Launches Smart Contracts: Soroban Now Live on Mainnet

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Oodles Blockchain
Stellar Launches Smart Contracts: Soroban Now Live on Mainnet

The Stellar Development Foundation (SDF) announced the successful activation of Protocol 20, a significant upgrade for the Stellar (XLM) blockchain network. This upgrade marks the official launch of Soroban smart contracts on the Stellar mainnet. It significantly impacts Stellar blockchain development services.

 

In a blog post, the SDF declared that the vote by Stellar network validators to upgrade the mainnet to Protocol 20 ushered in a new era for Soroban. 


They described Soroban as a secure "battery-included" developer experience designed for scalability and real-world applications.

This launch is a major milestone for Stellar, a payments network aiming to expand its capabilities as cryptocurrency adoption surges globally. The Protocol 20 upgrade was initially scheduled for January 30th, but a discovered bug prompted validators to postpone activation, as reported by Invezz. The SDF subsequently announced a phased activation beginning on February 20th.


Stellar had previously hinted at Protocol 20's imminent arrival in September. It highlights its role in enabling Soroban smart contracts on the network. The SDF further explained that the phased approach would allow validators and other network participants to monitor the impact of smart contract functionality on the network, ensuring optimal performance, security, and stability throughout the process.


What are Smart Contracts, and Why are they Important for Stellar?


Smart contracts are self-executing agreements stored on a blockchain network. They eliminate the need for intermediaries, streamline processes, and minimize the risk of errors or manipulation. With the introduction of Soroban smart contracts, Stellar gains a significant advantage, allowing developers to build a wider range of decentralized applications (dApps) on the network. These dApps could encompass anything from decentralized finance (DeFi) protocols to prediction markets and tokenized assets.


Discover the impact of this major upgrade: Stellar Launches Smart Contracts.


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