- The Stellar network is preparing for a significant upgrade, Protocol 21, which could potentially transform its ecosystem.
- This upgrade follows the successful mainnet launch of Soroban, Stellar’s smart contract platform.
- On June 18, 2024, Stellar public network validators will vote on the Protocol 21 upgrade, which could enable five new Core Advancement Proposals (CAPs) on Stellar’s Mainnet.
Stellar network is on the brink of a major upgrade, Protocol 21, which could introduce new features and improvements to the ecosystem, following a successful validator vote.
Stellar Network Prepares for Protocol 21 Upgrade
The Stellar network is gearing up for a significant upgrade, known as Protocol 21. This upgrade comes after the successful mainnet launch of Stellar’s smart contract platform, Soroban, which was approved by a validator vote on February 20, 2024. Now, almost three months later, the Stellar network is preparing for another protocol vote. On June 18, 2024, Stellar public network validators will vote on whether to upgrade the network to Protocol 21. If approved, this upgrade will enable five new Core Advancement Proposals (CAPs) on Stellar’s Mainnet.
Details on the Core Advancement Proposals (CAPs)
The five CAPs introduced with Protocol 21 offer several exciting new features and improvements. These include passkey signing support, an upgrade to state archives, and cost savings for smart contract transactions. Notably, CAP-0051 introduces smart contract host functionality or secp256r1 verification, which enables secp256r1 verification of Stellar’s smart contracts via the exported host interface. This CAP will allow developers to create contracts that include passkeys to sign smart contract transactions instead of using passphrases or signing keys. CAP-0053 extends the time to live (TTL) for contract instances and contract code through independent Soroban smart contract host functions. The remaining three CAPs focus on keeping Soroban transactions affordable through various methods.
Anticipation Builds for the Upgrade
The Testnet upgrade to Protocol 21 is scheduled for May 14, 2024, with the Mainnet vote taking place on June 18, 2024. As the countdown to the upgrade continues, anticipation is growing within the Stellar community and beyond. With its potential to usher in a new era of innovation and growth, the upcoming upgrade represents a watershed moment in Stellar’s journey and could set the stage for even greater achievements in the months and years to come.
Conclusion
The upcoming Protocol 21 upgrade could significantly transform the Stellar network, introducing new features and improvements that could redefine its ecosystem. With the potential to usher in a new era of innovation and growth, the upgrade represents a pivotal moment for Stellar. As the countdown to the upgrade continues, the anticipation within the Stellar community and beyond is palpable.
