Stellar Lumens (XLM), a blockchain platform known as a hub in cross-border financial transactions, is now gearing up to enter a new chapter with the launch of Protocol 20. The protocol will not only improve network functionality but also introduce Soroban, a smart contract platform designed for scale and ease of use.
Soroban: Smart Contract Revolution in Stellar
Soroban, which was introduced to the Stellar Mainnet as part of Protocol 20, offers a smart contract environment, Rust SDK, CLI, and RPC server. Developers can write and test contracts on their local machines or deploy them to Testnet or Mainnet. Soroban was designed with scalability in mind, improving performance with multi-core scalability, optimized cost models, and without troublesome serialization loops. It also addresses the problem of swelling status directly.
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Impact of Protocol 20 on the Crypto Market
The launch of Soroban and the implementation of smart contracts is a significant step for Stellar, as the platform has historically focused on cross-border payments and tokenization. With these improvements, Stellar aims to diversify its offerings and expand into new application areas within the blockchain ecosystem.
Although Soroban's launch has generated great enthusiasm, Stellar's native token, Lumens (XLM), has yet to recover to all-time highs from over six years ago, suggesting that the market may be responding less positively than expected.
XLM Market Performance
Currently, XLM is trading at $0.1275, showing an increase of 3.86% in one day. Despite a price drop of -4.20% in the last 7 days, Stellar (XLM) underperformed the global crypto market which rose 0.40%, while underperforming compared to similar Smart Contract platform cryptos which rose 0.50%.
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The Future of Stellar with Soroban
With the integration of Soroban, Stellar is expected to see increased utility and demand for XLM, which could take the platform to a new chapter in the global crypto industry. Soroban offers connectivity to Stellar's exceptional interoperability by accessing a wide range of on-chain and on- and off-ramps assets around the world. In addition, it benefits from five-second contract finality on a proven, mature network with 150 TPS.
Conclusion
The 20 and Soroban protocols mark a new era for Stellar, with the potential to change the way developers and users interact with the network. With a focus on scalability and ease of use, Soroban is poised to take Stellar to the next level in crypto evolution. We can expect to see more decentralized applications (dApps) built on top of Stellar, as well as increased adoption and utility for XLM in the future.
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How to Buy Stellar Lumens (XLM) on Bittime
You can buy and sell Stellar Lumens (XLM) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Stellar Lumens (XLM) is available on Bittime with the XLM/IDR market pair. To be able to buy XLM IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Stellar Lumens (XLM) on Bittime.
Monitor the price chart movements of Stellar Lumens (XLM), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Understanding about Stellar (XLM): The Digital Currency for Global Payments
Understanding Stroop: Parsing the Details of the Smallest XLM Unit for Transaction Efficiency
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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