The Stellar Development Foundation (SDF) recently released its Q1 2024 report, showcasing significant advancements in the first quarter. One of the major highlights was the launch of smart contracts on the Stellar network. This new feature, called Soroban, is a developer-friendly platform based on Rust, designed for scalability and practicality.
In addition to the introduction of smart contracts, the total supply of real-world assets held on Stellar surpassed $533 million. The platform also saw a total payments volume of $1.6 billion in Q1, solidifying its position as a leader in low transaction costs, with an average transaction cost of $0.000065.
Stellar Development Foundation CEO Denelle Dixon expressed excitement about the launch of smart contracts, describing it as the most significant change on the network since its inception a decade ago. The Foundation also awarded $3.2 million through the Stellar Community Fund to support projects being developed on Stellar, aimed at enhancing the network’s utility in the real world.
Financial inclusion and real-world utility are core to SDF’s mission, with a focus on providing everyday financial services to a global audience. Asset tokenization, on and off-ramps, and wallets are key components of the network that are bringing tangible benefits to people worldwide.
SDF is also actively promoting the adoption of its utility services, such as Stellar Aid Assist and the Stellar Disbursement Platform (SDP), to aid organizations involved in humanitarian work. For instance, the United Nations High Commission for Refugees (UNHCR) has used Stellar Aid Assist to distribute over $2.2 million to internally displaced individuals in Ukraine.
To ensure the security and reliability of its technology stack, SDF has collaborated with the ecosystem to establish Soroban as a secure smart contract platform. The Foundation launched the Soroban Audit Bank, offering up to $1 million in security audit credits in partnership with six top-tier audit firms. This initiative aims to set high standards for smart contract security within the Stellar ecosystem.
SDF leaders have engaged with the Stellar community globally, conducting listening sessions in countries like Ghana, Nigeria, and Kenya to gather feedback and insights. The Foundation will convene the community at Meridian 2024 in London from October 15-17 to celebrate achievements and discuss future endeavors on Stellar.
Stellar, founded in 2014, is more than just a blockchain. It is a decentralized network tailored for financial products and services, with a strong ecosystem that includes the non-profit Stellar Development Foundation. Together, Stellar is working towards unlocking the world’s economic potential through blockchain technology, offering speed and low costs for asset issuance and currency transactions in real-time.
The Stellar Development Foundation (SDF) is a non-profit organization supporting the growth of the Stellar network, aiming to create equitable access to the global financial system. Through technical support, funding, and collaborations, SDF serves as a key player in advancing blockchain technology for real-world applications. “5 Tips for Improving Your Communication Skills”
Effective communication is crucial in both personal and professional relationships. Whether you’re trying to convey a message, build relationships, or resolve conflicts, having strong communication skills can help you achieve your goals. Here are five tips for improving your communication skills:
1. Active Listening: One of the most important aspects of communication is being a good listener. Practice active listening by giving your full attention to the person speaking, making eye contact, and showing that you understand by nodding or asking clarifying questions. This not only shows respect for the speaker but also helps you understand their perspective better.
2. Choose Your Words Wisely: Be mindful of the words you use when communicating with others. Avoid using negative language or making assumptions about the other person’s thoughts or feelings. Instead, choose words that are clear, respectful, and empathetic to ensure effective communication.
3. Practice Empathy: Empathy is the ability to understand and share the feelings of others. By putting yourself in the other person’s shoes, you can better understand their perspective and respond in a way that shows you care. This can help build trust and strengthen your relationships with others.
4. Be Clear and Concise: When communicating, it’s important to be clear and concise to avoid misunderstandings. Avoid using jargon or overly complicated language, and instead, use simple and direct language to convey your message effectively.
5. Seek Feedback: To improve your communication skills, ask for feedback from others. This can help you identify areas for improvement and learn how to better communicate with different types of people. Be open to constructive criticism and take steps to implement any suggestions for improvement.
By practicing active listening, choosing your words wisely, practicing empathy, being clear and concise, and seeking feedback, you can improve your communication skills and build stronger relationships with others. Communication is a skill that can be developed and refined over time, so don’t be afraid to practice and make improvements as needed.