In a significant <a href="https://stellar.org/blog/developers/protocol-20-and-smart-contracts-are-live-on-mainnet" target="_blank" rel="nofollow noopener">development</a>, the Stellar Development Foundation (SDF) has successfully deployed smart contracts on the Stellar network, marking the initiation of a transformative era for its technology stack. The "Protocol 20" upgrade, along with the phased rollout of the Soroban <a href="https://www.cryptoknowmics.com/news/unlocking-smart-contracts-on-xrp-ledger-easya-partnership-unveils-possibilities/" target="_blank" rel="noopener">smart contract</a> platform, sets the stage for enhanced user-friendly experiences for developers and the creation of decentralized applications (DApps).

[embed]https://twitter.com/StellarOrg/status/1760001015234072645[/embed]
<h2>Milestones Achieved in Phased Rollout</h2>
The Stellar network validators have successfully introduced the "Protocol 20" upgrade, unlocking new smart contract capabilities and commencing the phased rollout of the Soroban smart contract platform. This development is a culmination of meticulous planning, including Phase 0 for stability, Phase 1 for rigorous testing, and Phase 2 for full-scale production.

The Soroban platform, initially deployed to the Stellar testnet in October 2022, is designed with scalability in mind, featuring predictable fees and independent resource pricing. Stellar's smart contracts ecosystem aims to provide developers using Rust and WASM languages with an enhanced experience.
<h2>Empowering Developers and Building Together</h2>
Stellar's smart contracts will empower developers to create decentralized applications, enabling the construction of innovative protocols and apps on the network. The announcement celebrates collaborative efforts, hard work, and community support that have laid the foundation for this transformative phase.

Despite initial delays due to a bug in Stellar Core, the SDF's commitment to smart contract functionality remained steadfast. The nonprofit organization launched a $100 million funding initiative in October 2022 to encourage developers to build on the Soroban smart contract platform.
<h2>Market Impact and Future Prospects</h2>
While the Stellar network's native token, XLM, experienced a modest 1% decline in the past 24 hours, questions linger about its performance relative to the broader 2024 crypto market rally. XLM currently trades at $0.116, reflecting an 87% decrease from its January 2018 all-time high of $0.875.

This milestone signals a new chapter for Stellar, inviting developers and the community to actively participate in building the future of decentralized applications on the network.

Stellar Unveils Smart Contracts on Mainnet: A New Chapter Begins

Stellar's Protocol 20 upgrade brings smart contracts to the mainnet, unlocking new possibilities for developers and decentralized applications.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Stellar Unveils Smart Contracts on Mainnet: A New Chapter Begins

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