Stellar (XLM) Plans Ahead Network Upgrade of Protocol and Space
Stellar is an open source hybrid blockchain platform that helps facilitate cross asset transfer of value at low cost. The foresight of this platform is to create a system whereby profits can be moved anywhere globally with no geo-restrictions
The blockchain firm shared its monthly recapitulation recently, and it features a number of exciting developments ahead. In this article, we are going to emphasize on the most significant imminent developments on the stellar network.
Stellar protocol upgrade.
On June 10th, validators casted a vote to adjust the stellar network to protocol 11. The upgrades within the network targets users, developers and businesses that rely on stellar. The three standout changes that would take place amid the upgrade to protocol 11 include:
- The network space upgrade.
- The introduction of buy offers.
- Improved transcription pricing.
The network space upgrade
Normally, when a blockchain network is full, price shoots up. The improved network space has been set high to back an enormous volume of activities.
But contrarily, it is set low to allow nodes with entry to low quality products. It will also allow slow connections to run. These new adjustments will result in;
- Getting business to the ledger seamless.
- Low frequency in the rise of prices.
- The network capacity will be high and constant.
- No fee charges unless it’s a requirement.
- Users could choose a higher fee than average so that they won’t get edged out in case
of a price surge.
Introduction of buy offers
Users and financial institutions can now use protocol 11 to indicate buy offers. This was not possible before. ManageBuyOffers feature in protocol 11 can be used to accept genuine buy offers. The feature allows one to describe the highest number of assets he’s ready to buy. This applies to the amount one is willing to pay.
The are also changes in the naming of some features;
ManageOffer feature to ManageSellOffer
CreatePassiveOffer to CreatePassiveSellOffer.
If you want to buy or sell an offer, the units specified for the rates are the same as for regular markets.
These adjustments will make stellar order books to function like other great market order books. This simplifies everything for everyone.
A new version of VGC auction with fixed prices will take place after protocol 11. Users can now select the maximum fees they will pay. After all, the fees won't be that high. If the activities on the network are huge, users pay the specified amount. If activities are below average, users will pay fewer fees.
It will be easy and efficient to access the protocol. The realization of these achievements will be through continuous improvements in technology.
Alongside disclosing networks health summary, stellar has unveiled a new dashboard.it displays metrics in a simple to fix grafana dashboard. The dashboard can be found at Https://grafana.com/dashboards/10334
Satoshipay has teamed up with Fairplanet to necessitate seamless and ecofriendly micropayments.
Stellar New Hires
SDF has also added the following people to its team;
Christine To-Director of partnerships
Prior to SDF, she used to work at AirFox as a strategic partner. To worked on strategic partnerships leading to growth initiatives increasing financial access for the unbanked in Brazil.
Nikhil Saraf- Principal Software Engineer
Saraf was at interstellar working on the Kelp market-making bots and Horizon. He is a full stack engineer and has mainly focused on data engineering during his Amazon career. He once built a mobile payments app startup which developed his interest in the payment space.
About The Author
Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.
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