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Stellar Launches Smart Contracts After Bug Fix Delays

source-logo  cryptonews.net 21 February 2024 14:11, UTC

The Stellar Development Foundation (SDF) has announced the deployment of smart contracts on the Stellar network, which it claims will help usher in a “new era” for its technology stack. In a statement on February 20, SDF said that Stellar network validators have successfully delivered the “Protocol 20” update, bringing new smart contract capabilities and initiating a phased rollout of its smart contract platform, dubbed Soroban.

Stellar’s smart contracts will focus on providing a better user experience for those using the Rust and WebAssembly languages. Soroban, a smart contract platform first deployed on the Stellar testnet in October 2022, uses scalability features such as predictable fees and independent resource pricing.

Stellar wrote that its smart contract ecosystem will enable the development of new decentralized applications (DApps), allowing developers to build new protocols and other applications on the network. The long-awaited update to the smart contract core network was initially delayed by SDF in January after its team discovered a bug in Stellar Core. At the time, the firm said the bug posed a “low risk” but could potentially impact applications once the smart contract platform is deployed.

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