Stellar (XLM) Unveils Significant Testnet Upgrade: What’s the Future for the Crypto Coin?

• Stellar (XLM) has recently activated Protocol 21 on its testnet, marking a significant milestone for the network.
• On June 18, 2024, Stellar public network validators will vote on whether to upgrade the network to Protocol 21.
• This upgrade introduces new features such as passkey signing support, an improvement to the state archive, and cost improvements for smart contract transactions.

Stellar (XLM) is set to upgrade its network with the activation of Protocol 21, introducing new features and improvements that aim to enhance network efficiency and reduce fees.

Stellar’s Protocol 21: A Significant Upgrade

Stellar has always been committed to improving network efficiency and reducing fees. Protocol 21, which is now live on the testnet, is a testament to this commitment. The upgrade introduces new features such as passkey signing support, an improvement to the state archive, and cost improvements for smart contract transactions. These features are part of Stellar’s Core Advancement Proposals (CAPs) 0054, 0055, and 0056, which aim to keep the Stellar network accessible and cost-effective for all users.

Previous Upgrades and Their Impact

On February 20, 2024, validators voted to upgrade to Protocol 20, which brought Soroban smart contracts to Stellar’s public network. Since then, developers worldwide have successfully deployed smart contracts to the Stellar Mainnet. The success of Protocol 20 has set a positive precedent for the upcoming upgrade to Protocol 21.

What Comes Next for Stellar

With Protocol 21 now live on the testnet, the focus shifts to preparing for its deployment on the mainnet. This process will require careful coordination and testing to ensure a smooth transition. Key dates following the testnet upgrade include May 30 for the stable releases of Stellar Core, Horizon, RPC, June 11 for the testnet reset, and June 18 for the vote to upgrade the mainnet to Protocol 21.

Conclusion

The activation of Protocol 21 on Stellar’s testnet marks a significant milestone for the network. The upgrade introduces new features and improvements that aim to enhance network efficiency and reduce fees. With the mainnet upgrade vote set for June 18, 2024, the Stellar community eagerly awaits the potential benefits that Protocol 21 could bring.