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Stellar (XLM) Readies for Game-Changing Upgrade: Details

The Stellar network is gearing up for a significant upgrade known as Protocol 21, which could have a major impact on its ecosystem. This upgrade follows the successful launch of Soroban, Stellar’s smart contract platform, after a validator vote on Feb. 20, 2024.

Now, nearly three months later, the Stellar network is preparing for another protocol vote. On June 18, 2024, Stellar public network validators will decide whether to upgrade to Protocol 21, which, if approved, will introduce five new Core Advancement Proposals (CAPs) on Stellar’s Mainnet.

These five CAPs bring exciting new features, such as passkey signing support and cost savings for smart contract transactions. For example, CAP-0051 enables secp256r1 verification of smart contracts, allowing developers to create contracts with passkeys for signing transactions.

Another CAP, CAP-0053, extends the time to live (TTL) for contract instances and code. The remaining three CAPs focus on reducing transaction costs in various ways, including refining the cost model for virtual machine instantiation and caching parsed Wasm modules within transactions.

The Testnet upgrade to Protocol 21 is set for May 14, 2024, with the Mainnet vote scheduled for June 18, 2024. The Stellar community and beyond are eagerly awaiting this upgrade, which holds the potential to drive innovation and growth within the network.

With the promise of a new era of possibilities, the Protocol 21 upgrade represents a significant milestone in Stellar’s journey, setting the stage for further achievements in the future.

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