Stellar blockchain is poised for a revolution in its network that will disrupt the crypto world.
Protocol 20, its new update, is eagerly awaited by the entire community.
Protocol 20: Stellar’s blockchain is updated and Soroban Smart Contracts are introduced, the crypto world awaits
The Stellar network is about to undergo a major transformation with the upcoming update of Protocol 20, heralded as the most significant and complex update to date.
A key element of this update is the introduction of Soroban smart contracts, which open up a world of possibilities for developers and companies operating on the Stellar blockchain.
In this guide we will delve into the essential details of the Protocol 20 update and outline the steps necessary for developers and companies to prepare for this revolutionary transition.
The complexities of Protocol 20
As the Stellar network evolves, so do its capabilities. Protocol 20 represents a significant step in this evolution.
Although the basic instructions for preparing for this update remain the same (make sure you have up-to-date versions of all Stellar-related software) the process will involve a few more steps and will take place more gradually than previous updates.
Testnet update: 20 September 3:00 PM (UTC)
The initial phase of the Protocol 20 update is scheduled for 20 September at 3:00 PM (UTC), with the release of candidate versions of Stellar Core and Horizon on the Testnet.
This is a crucial testing phase that allows developers to ensure the compatibility of their applications with the new protocol.
Mainnet upgrade vote
Following the Testnet upgrade, the next major milestone is the Mainnet upgrade vote, which will be scheduled approximately six weeks after the stable versions of Stellar Core and Horizon are available.
The exact date of this vote will be determined by Mainnet validators. As soon as the date is confirmed, it will be updated in the official documentation.
Additional network settings and votes
Protocol 20 introduces new network settings that will be under the control of the validators. It is very likely that the initial vote for the upgrade will be followed by a series of additional votes to fine-tune and adjust these settings.
As soon as a timeline is established for these subsequent votes, this information will also be added to the documentation.
Stay informed and engage in the ecosystem
To stay well informed about the Protocol 20 update and to actively participate in discussions, questions, suggestions, and knowledge sharing, it is recommended to join the Stellar community.
In particular, the #protocol-20 channel is where the ecosystem coordinates and shares key information about the update.
Key dates of the Stellar blockchain update and crypto-compatible infrastructure
As the Protocol 20 update progresses, new key dates will be added to the calendar.
Stay tuned for updates and additional information to help you through this transformation process.
20 September 3:00 PM (UTC): test network upgrade.
To ensure a smooth transition to Protocol 20, it is essential to keep track of the latest software releases related to the upgrade.
Below is a list of the types of software that will need to be upgraded, with links to the relevant release pages and minimum SDK version requirements.
For those managing Testnet nodes, the latest versions of Stellar Core and Horizon must be installed to ensure compatibility with Protocol 20.
The new SDKs
Developers will need to update their software development kits (SDKs) to align with the new protocol.
Below are the SDKs and their release pages to monitor for updates:
- Go (horizonclient & txnbuild)
- C# .NET
In conclusion, Stellar’s Protocol 20 update is a significant step forward for the network, introducing Soroban smart contracts and improving its overall functionality.
Developers and companies operating on the Stellar blockchain should remain actively engaged in the ecosystem, keep their software up-to-date, and prepare for the next steps to take full advantage of the potential of this transformative update. Stellar’s future looks brighter than ever.
Register at Binance